By: Mahmoud Gamal
Dubai – Mubasher: Analysts advised investors to make use of the current profit gaining wave in the UAE markets to form new purchasing positions on Tuesday, with the respect to stop loss levels.
The current levels of lots of leading stocks in the UAE markets reached attractive levels for purchase, despite the current declines, technical analyst, Ali Al Zafiri, told Mubasher.
Moreover, technical analyst, Mohamed Al Shemary, noted that the trading in the UAE markets yesterday was weak in terms of liquidity, which assures that investment funds do not have the appetite to sell at the moment.
He added that yesterday's declines were healthy and suit the period where caution controls investors, awaiting to be sure from the path of the global stocks that face fluctuation after the failure of the Italian referendum.
Al Shemary pinpointed that the current fluctuation of indices is expected, amid the absence of the catalysts that make the shares able to rise.
The analyst noted that despite being affected by the external factors and profit gaining, Dubai Financial Market (DFM) gave an initial entry signal, in its way to reach the levels of 3,450-3,460 points.
Translated by: Sara Ghali
