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DFM

Gulf Financial - Where is it going ?Its bit tricky as of now, it was in a range and it tried to breakup today but eventually came bak to the same levels which is a danger zone at the same time i can see wick on this candle indicating bull pressure so i really dont know which side its gonna go. I will wait for the clear indication if it shows tomorrow to decide on this stock. I have a feeling it might retest again the lower level to go up or it may give a doji candle.Happy Trading :) Hit LIke & Follow
DFM:GFH
by stalkstock
Dubai Financial Market what next?Bulls need to show power as price have tested the lows 3 times in a row and have rejected. Price also confirmed to go higher after testing the lows. As of now its consolidating or ranging at the current price levels. If we dont see a break up or a failure we can see a immeditate support at 1882 zone however we are still in near term up trend. My view is bullish on this market and i think we should see a breakout in coming trading sessions. Lets prepare for the market to open after eid holidays. Happy Trading :) Hit Like & follow
DFM:DFMGILong
by stalkstock
Deyaar after news effectQuarterly performance was announced today the results were not as good as expected but still the stock managed to rise and close above the previous candles high. Interesting part is it opened lower today but managed to attract buyers and pushed it higher to make it a green solid candle indicating buyers are here and very much interested at this price. Todays candle have completely engulfed the previous days red candle it is a bullish pattern. I missed to notice that it broke the trendline (uptrend) and didnt not get a chance to sell it. I am still holding this stock and will keep an eye how it performs this week. More upside coming in my opinion :) Hit LIke & Follow
DFM:DEYAARLong
by stalkstock
Dubai Financial Market - Bulls in control?Started the with a green day for the week, it took nice support at FIB levels and pushed it up indication correction is done and there is now a potential to go more upside, first target should be 1940 and then the recent swing high which is 2040. Market was good today but dint witness big volumes to close above the previous high of 1920. Bulls should show more power to push the market upwards and take full control. RSI still below 50 which is another indication that market is still in range and not yet confirmed for the up trend. I am bullish on this market Hit Like & Follow :)
DFM:DFMGILong
by stalkstock
1
DFM - Sign of Relief?Interesting closing today and finally a green candle on a daily chart. So is this starting of a up trend again? is the downside over? In my opinion NO!! As mentioned in my previous idea it did find the support at the ichimoku base line (tenkan sen) and we have seen a bounce today from the same levels. But we did not see a confirmation yet for the upside we still saw and green hammer candle but to confirm the end of this retracement we need to have a close above 1905 tomorrow to confirm the correction is done. Yes we can also see long wicks below the candle which shows good support area a confirmed and decisive close above 1905 will resume the rally in my opinion. The next target should be 1940 area once we have a confirmation. I am still bullish ! If this is informative hit like & follow to show your support :)
DFM:DFMGILong
by stalkstock
Dubai Financial Market - Has it bottomed?Clearly it could not hold above 1900 levels and selling pressure was witnessed in early hour of trading. Interesting part is it bounced right at the 26 days tenkan sen (base line in red) which is ichimoku's important indicator and a medium term trend line. Also 1850 is a 50% fib level from the current rally. Good chances that market can bounce off from here to the next higher levels. There is also possibility that it cant hold and we may go further down to test the swing low that is 1800 level. Major news expected this week which may also direct the markets direction. Lets see how the market goes tomorrow i am still bullish on this one. Happy Trading Hit like & Follow if you liked it.
DFM:DFMGILong
by stalkstock
Dubai Financial Market- Is the correction done?If we take a very closer look that is the very recent rally that is 1800 to 2040 we can see from the FIB levels that it have retraced 61.8% which is a important level and it have managed to close above 61.8%. If this is to be correct, we have to see the confirmation candle again which have to be above 1923 to confirm that the correction is done and uptrend should resume. This would be my second scenario for looking at the market from bull perspective surely i am long biased. So tomorrow is a decision day to know the direction of the market, Happy Trading :) Hit like & Follow
DFM:DFMGILong
by stalkstock
Amanat Holdings - DfmIf you had check my earlier idea on this there was heavy buying just before the market closed indicating institutional buying. Since thn this stock is on a bull run. Thursday it gave a nice big green candle but it was immediately rejected by 200 ema acting as a dynamic resistance. Currently the price is in a channel and lets wait for it to break and close above the 200 ema. It may retest the 200 ema ones it break upwards and can resume it journey to the up trend. Till thn lets wait and watch this stock. Happy Trading :) Hit Like & Follow
DFM:AMANAT
by stalkstock
Dubai Financial Market - Tricky situationThe market witnessed selling pressure till 12 noon and it bottomed out for the day at 1867 zone. We can clearly say that it have visited this level last week and its a important FIB level of 38.2% however the market managed to close above 1900. Now the question is are we still in uptrend ? In my opinion we are still in short term uptrend at the same time we are witnessing a retracement of 38.2% from the recent really. We need a confirmation sign to see if the retracement is done for this rally to move more upwards. If in tomorrows session we can make a solid green candle and a close above 1923 we can say the the uptrend have resumed and we are looking to make another higher high. Another Senario is we test the next bottom of this uptrend 1803 that is also at 61.8% FIB which is again a very important level in bull market. Happy Trading guys :) If you have learned something from this idea Hit like & Follow !
DFM:DFMGILong
by stalkstock
Dubai Financial Market - In cycle?The index is in short term up trend but stuck in a range for the last 1 week. As we can see the rally started from the low of 1680 area and made a high of 2039.64, if we closely count the period its taking to make new highs and retracements it gives me a cycle of 7 days up and 5 days correction. IF we go with this cycle it can potentially give a breakout on sunday or monday on either sides. Since we are on a short term uptrend i am biased on the upside. Also to make a note that its taking support at 38.2% FIB levels as of now. Next Immediate support level is 1820 area lets wait and watch the market to decide on the direction. My positions are still open and will decide upon the breakout. Happy Trading Hit like & follow
DFM:DFMGILong
by stalkstock
Dubai Financial Market - More up? The market sell off yesterday with most of the stocks making a daily limit down of 5 % with fears of current virus conditions on the economy more pressure came as saudi markets opened in red and sold off. With todays closing in DFM it have found support at fib level of 38.2% retracemnt from the recent highs. The current short term trend of the index is up trend making higher highs. In a trending market a correction of 38.2% or 50% of previous rally is considered as a healthy correction. Now the question is after this beautiful hammer candle at the support level are we going down or up ? in my opinion we need a confirmation candle to move more upside, If we can close anywhere between or above 1980 to 1985 tomorrow would be considered as strong signal to move more upward anything below would be a weak signal. I didnt close my positions in yesterdays panic selling as i knew we can expect a short correction. So i will be looking to sell later this week or next. Happy trading :)
DFM:DFMGILong
by stalkstock