By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are technically expected to maintain their upward trend on Monday, amid better oil prices and Asian stocks, analysts told Mubasher.
The breakout of Dubai market above the downtrend line yesterday may push its index higher to 3,350-3,415 points, capital market analyst Nawaf Al-Ajmi explained.
The market will continue its positive performance if its main index stabilised above the level of 3,330 points, and in this case, it will target 3,414 points, capital market analyst Khalifa Al Kaabi said.
The DFMGI will not move above the aforementioned levels until it is backed by Emaar Properties and Arabtec Holding which target AED 6.6 and AED 1.64 in a row, he added.
If Abu Dhabi’s stock market sustained its position above 4,400 points, its index will rise to near 4,500 points in the coming sessions, capital market analyst Gamal Abdel Hamid told Mubasher.
