Higher HighClearly we can see its making higher highs and its in a uptrend!! Its at a solid resistance of 3.05 with todays toji candle right at the resistance level i think its due for a correction which will be healthy. A small retrancement to 2.95 to 3.00 will be good and a buying opportunity for those who have missed the trade. Emaar can also be of very good investment for long term say around till next year exhibition 2020. Its prices will keep going up as we near the exhibition. Bullish & buy the dips
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EMAAR trade ideas
EMAAR - Dubai Financial Market *****Please follow, like, and support this idea, if it helped you in anyway*****
***This is not a financial advise***
Emaar is on its way to fly high - and not thinking of looking back, It has broken the channel two time and got the rejection.
On the third time with the double bottom, it might break all the resistance coming on its way.
Additionally, it has also started trading as derivatives on the DFM, so buy and sell game will start
Stocks holder - keep an eye for long term and the target of AED 8 is easy to attain with in 5 years of time, short term, please stay away as it will jump and retrace quickly due to derivatives pressure initially
Overall, This is the heavy weight share on DFM,
Chart was prepared on request from Mr. Omar
Strong Support HoldsEmaar was at a very important and crucial support level which i mentioned in my previous analysis - 2.55 level. We can see some price action right at the support level. For the last 2 days its making nice big green candles infact today it opened with a gap up and came down for a small profit booking too but buyers again jumped in and pushed the price to the upside. Emaar has power to move the whole market it is big stock and it has got heavy weightage on market index. I will wait for a correction and then enter the trade. Looks very bullish for now this can be a begining of a new uptrend!!
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Still StrugglingEmaar under pressure while aldar in abu dhabi is performing excellent. It made a breakout that was fake as it could not hold the gains and dropped back at the important support level of 2.60 if this level does not hold the next support is at 2.45 over all its looking very bearish. For it to become bullish it have to close and sustain above 2.70 no trades yes just stalking. Looks bearish for now at at a crucial support level.
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End of Pain??It have been falling down since important support level was broken at 2.85 we are seeing a nice hammer candle right at the support level. So is the down trend of emaar finished? not yet we want to see a confirmation, once it closes above 2.68 it will be bullish for now we keep stalking we dont need to enter the trade first let the market decide and give us a some bullish signal to take the trade.
Once the resistance level of 2.86 is broken we can see a nice momentum to the upside.
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Emaar!! Common take the market up!!This is powerful stock with heavy weightage on the index when this stock moves the market moves in the same direction. Its been under tremendous pressure these days. It broke the immediate support of 2.65 level and now its going further down, next support at 2.58 level then 2.55 as of now its in a down trend so we dont enter the trade thinking that it can change the direction. We wait for the confirmation that support is holding and thn we enter the trade. There is no point entering the trade in a downtrend and increasing or losses by holding the position. Just keep stalking this one.
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Very trickyWith todays candle emaar have confused us as a technical trader, It have made a new high but at the same time it have closed with red candle. Its always better to wait for a proper setup if we are confused we dont buy the stock. I will wait for another candle if tomorrow we can see a green candle it will help us to decide the trade and we can see it from a bullish perspective too.
Keep stalking this one. Hit like & follow guys ;)
Perfect BounceClearly we can safely say that 2.65 is a good support and its holding. The gap seems to be filling now and 2.71 seems to be a resistance but i think in tomorrows session it can break think and touch 2.75 Once it crosses 2.85 that is a strong resistance emaar will be very bullish again and it will touch 3.00
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Whos Buying it??Support level of 2.65 is holding as of now. Something to notice here is it was struggling to cross 2.65 during the trading hours but in trade at last that is last 5 mins it jumped and closed at 2.67 so who bought this ? Sure we can say that big boys found this price attractive and entered the market pushing the price to the upside. If we can see a close above 2.70 tomorrow we can confirm the shift in the momentum and it will be good chance to enter the trade. Why market changes is last 5 mins?? "MARKET IS OPENED BY AMATEURS AND CLOSED BY PROFESSIONALS "
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Will it Hold?Its been breaking all the support levels as of now its again at a support area of 2.65 in thursdays session buyers were trying to hold this level and eventually it closed at the same level. Lets see if it can hold!! as of no no trades no rush to enter the market. Lets see if this level is holding. Bearish !!
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Support BrokenEmaar have broken its support level and now its on a free fall. If it does not hold 2.70 level next support is it 2.62 and thn 2.55 respectively. Bearish as of now no trade on this one. Just keep stalking and see when it crosses the resistance level of 2.85 and make a price action. Bearish !!
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Playing out as per the planIt have take a bounce right from the support level but as of now in a down trend good for intraday trading entry at 2.80 and exit at 2.86. If we see on weekly chart still maintaining its uptrend but in daily chart its not looking very impressive. I will not take this trade as of now.
Emaar It could not recover properly from the panic selling that we witnessed last week. Also it broke the important support level and now its pushing to the downside. First support at 2.80 area second at 2.70 which is a strong support area. If a stock breaks down after a consolidation phase that is not a good sign and it means weakness. No trades on this stock till it gets bullish again.
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Its not looking goodIt broke the resistance in thursdays session and today it have further dropped if it does not bounce from here next stop is at 2.70 and short term trend will change to down side. Emaar have to cross the solid near term resistance of 2.95 to show some strength. It have broken the range to the down side, trend is still to the upside but getting weaker now bulls need to active and show some power in tomorrows session.
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2 ScenariosEmaar have broken the support level and also it could not recover after the panic selling. First we can say it can retest the resistance and get rejected to fall further down. Secondly it has to show some bull power and come back again the range or consolidation. So lets wait for it to make some price action and we trade accordingly.
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