By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are expected to maintain their upward trend amid heavy purchases of low-priced stocks, analysts told Mubasher.
The UAE indexes are capable of facing the coming resistance levels on their way up, technical analyst Thabet Al-Harbi said.
Investors should monitor crude oil prices which extended gains in Monday’s early trades, Al-Harbi said. He added that Brent crude will keep making technical moves upward amid normal profit-taking which will not affect stock markets.
Dubai’s technical position is positive, and the index’s current level will push the market to target 3,660 points, according to Al-Harbi.
He finally advised investors to watch the volume of liquidity pumped in Arabtec Holding’ stock, which became a market driver.
Investor are making use of certain attractive stocks, especially in the real estate sector, capital market analyst Amir Mansour noted.
Translate by: Julian Nabi
