By: Mahmoud Gamal
Dubai-Mubasher: The UAE equity markets are likely to see speculative trading and building of new positions in selective stocks on Tuesday, analysts told Mubasher.
Positive speculations will continue in the markets as some stocks reached attractive price levels, said technical analyst Ahmed Al-Zahouri.
Dubai market closed above the important resistance level of 3,105 points on Monday with high liquidity, which will likely push the index to continue its upward trend in the coming sessions, according to Al Zahouri.
Emaar Properties’ break above AED 5.72 will take the stock higher towards AED 6.25, the analyst said, adding that its support level stands at AED 5.72.
Commenting on Abu Dhabi market, Al-Zahouri noted that the main gauge targets 4,450 points after it technically broke above 4,150 points on Monday.
He went on to say that the energy sector gave a purchase signal technically, especially for TAQA which stands at the important resistance level of AED 45 and may cross it towards AED 51 then AED 58.
Translated by: Julian Nabil
