By Mahmoud Gamal
Dubai – Mubasher: Traders on UAE stock markets are advised to take advantage of the current wave of profit-taking to build new positions and to consider the stop-loss levels at the same time, analysts told Mubasher.
Most blue-chip stocks have stood attractive price levels despite the current downturn, said capital market analyst Mohamed Al Shamri.
Moreover, investors are optimistic about some blue-chip companies to register positive first six-month financials that will likely affect their annual cash dividend distributions, Al Shamri noted.
In spite of Tuesday's decline and low liquidity levels in general, the technical analyst Ali Al Dhafiri saw this downturn as a healthy movement responsive to the accounting period, namely the market further lacks positive data at the same time.
The sideways movement is likely to continue until the outlook on oil prices and world markets' trend become clearer in the coming day after the US Federal meeting posts its updates on interest rates and the monetary policy , Al Dhafiri concluded.
