Bounce back. Burjeel Holdings Chart Analysis (ADX):
The stock is in a downward channel, reflecting a long-term bearish trend.
It is currently near the lower boundary of the channel (support around AED 1.98), a potential reversal point.
A breakout above AED 2.40 (upper channel line) would confirm a bullish trend reversal.
Watch for increased volume and bullish candlestick patterns for confirmation of a rebound.
Upcoming earnings report in 44 days could act as a catalyst.
Strategy: Short-term traders can consider entry near support with a stop-loss below it, while long-term investors should wait for a breakout.
