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Dubai

DFM bulls are tiredTodays session was just red red all over, it found support ar 2050 level and it took off from here but in todays session it made a red candle closing below yesterdays close there was heaving selling pressure and profit booking on pervious gains it means investors are booking profit early and are not confident. Profit booking normal and such small corrections after big moves are normal but we didnt have a very big move yet. It closed just at the near support level as marked in the chart, 2080 is support area now. So what next? i think market should resume upwards tomorrow or stay in this zone for another day before making a move upside. We stick with our scenario that trend line is broken and now the market is in the range that can potential make a W pattern. Tomorrow is last trading day of the week and i can expect more selling pressure as investor would not like to keep their positions open. As long as market is above 2050 i am bullish. ---Hit like & follow to show your support----
DFM:DFMGILong
by stalkstock
Salama Its becoming weak now, it go resistance strongly right at 200ema but at the same time found support at 0.500 level i was expecting it to close above the 200ema today so that it can continue going higher but it created a a big doji candle. Tomorrow is a decision day if it wants to go up or down i am still holding on to my trade. It can go either side but i think it might go up as it has accumulated twice at 0.500 area and it found support and it is now trying to break the resistance levels. Lets see i will keep a close watch and stalk it below 0.500 i will exit my trade and book a loss. Hit like & follow
DFM:SALAMALong
by stalkstock
DFM Rocket Launch!!Yes market made a big move today finally and thankfully upside. After series of dojis it made a decisive candle today activating bulls and pushing market upside. My plan and market scenario is still the same market took support at 2050 and now moving up this kind of is a indication that retracement is done for now and it have made a double bottow or W pattern in progress it will confirm once it crosses 2120 and move more upside. Next target is 2120 it may go direct or zig zag but the potential from here is to go up. Bullish for sure. Time to make money, let be in the money! Hit like & follow
DFM:DFMGILong
by stalkstock
DFM in RangeRed candle again for the 8th day again and on first day of the trading week. Market is caught in a range market opens positive but cannot maintain its strength and closes negative market is trading on a thin volume & not many trades are happening these days. Today it closed red and made a brearish doji candle, thursday it made bullish hammer candle taking support at 2051 area. So bulls and bears are fighting for a direction and one thing is for sure there will be a big move soon on either side once this range is broken more the consolidation more the bigger move. No doubt market is weaker and as of now sellers are trying to sell what ever they have there are no big buyers for now. Smart money is waiting for some catalyst to buy the stocks. I am still bullish till the time market is above 2050 area which is a very crucial support area. I think there will be more selling pressure tomorrow in the first half and market may recover later. Lets see how the market performs tomorrow. Hit like & follow
DFM:DFMGILong
by stalkstock
Air Arabia wants to fly Aviation industry is under pressure because of pandemic situation BUT as the flights are resuming now and operation starting this stock will push higher as fundamentally it will become more stronger and it is stronger. Technically it made hammer candle right at the dynamic support area which is 200 ema. Tomorrow if the market is positive this stock can go higher, nearest resistance is at 1.22 and support is at 1.17 once it crosses 1.22 more upside can be expected my first target would be 1.30. This stock is in a uptrend and making highs, I will wait for a decisive green candle tomorrow and thn take the trade to be safe. This analysis was done on the request of a trader @mkhaggag Hit like & support
DFM:AIRARABIALong
by stalkstock
Deyaar under pressureThis was in a nice uptrend stock as you can see the trend line was broken 18th june and retested & rejected on 19th june. Its now in a down trend and on thursday it opened with a gap down indicating buyers are still not interested to buy at this level. If in tomorrows session if it can open with a gap up and close above atleast .280 or higher a pattern can be confirmed. In candle stick patterns its called abandon baby and if the pattern is confirmed new uptrend can start and stock can trend upwards. As of now its not tradable as it can still go down side so lets wait till in breaks the trend line and confirms that uptrend is resumed. This analysis was done at the request of a trade @mkhaggag Hit like & follow
DFM:DEYAAR
by stalkstock
DIB is it buy time or bye time ...Its a heavy weighted stock means dfm index moves when the price of this stock moves. Lets analyse, its a uptrend stock and retracing after the breakout i had previously also mentioned in my idea to go long on this one as this stock is very strong fundamentally and technically too. After the breakout it took support at 3.80 level and it have come back for the second time to test this area it made a doji candle that is indecisive but on thursday it made a nice bullish green candle giving a close above the previous days open which is very bullish. Yes bank stocks are very sensitive to the news so trade this if there is not negative news it can give good profits for sure. Hit like & follow to support
DFM:DIBLong
by stalkstock
Dubai Financial Market Bulls & Bears who wins??In my yesterdays idea i mentioned 2050 is crucial support area, today the market bounced from 2051 and could not break the support area. I was expecting market to make a doji or a hammer candle and as expected it made a nice hammer candle right at the support level. So is the support level confirmed? is the retracement done? bull trend started? The answer is BIG NO!! market just took a hold at the support area and made a hammer candle after a inverted hammer candle day before yesterday. Todays hammer is bullish but to confirm the support we need to see a green candle that should close above 2070 or above 2075 to be very safe. If the market makes upward move from here and confirms W patter we can expect market to make a new high very soon i had mentioned earlier the target could be 2225 area. I am still bullish as the market is above 2050 area. Next week could be very interesting lets stalk the market and find an edge to trade. More details next week, Happy Weekend!! Hit like & follow :)
DFM:DFMGILong
by stalkstock
DFM heading south?Market is getting weaker day by day but interesting part is its not making any big moves to down its climbing slowly. As mentioned earlier 2050 is a crucial support area for this uptrend to sustain i would see a sign of relief it makes a hammer or a doji candle tomorrow to hold at this level. If it wants to break this important level it has to break it with a big decisive candle with a strong momentum. As per my analysis it should take a hold from tomorrow. If it has to make a W pattern at this level it has to hold 2050 area and cross 2120 to confirm the W pattern and resume the uptrend. Lets not forget trend line is broken already and market is just at the near support area. We have to wait for tomorrows closing which will be very important. I am bullish till the market is above 2050 level. Hit like & follow :)
DFM:DFMGILong
by stalkstock
DFM Red Red RedFor the 5th day again it printed red candle and no sign of relief yet! There are 3 support areas marked in yellow boxes as you can see. First support at 2045 - 50 Second is 2030 to 35 and finally psychological support of 2000. In my opinion market have become weak, it made a doji right at the trendline and today it not only crossed but also retested and failed which is very very bearish. Technically we are still in up trend as we have not yet taken the lows out. There is a pattern which can be formed here and its not yet completed but i am presuming that there is a possibility to look at the market from a bull angel. This pattern usually occurs when the market is at the bottom or cannot break the resistance and in up trend it tries to break the resistance by going down consolidation and the up again, the pattern is called W pattern i have drawn on the chart for illustration. There is a possibility it can make a W pattern and resume the uptrend TILL the time its above 2050 level. I am bullish as long as it stays above 2050 levels. Hit like & follow if you like my analysis.
DFM:DFMGILong
by stalkstock
DFM Waiting for news?Another red doji candle for the day, its 3rd day the market is at the same place and not making any moves. As i mentioned in my previous idea its at the crucial zone its a support area. The market is little weak as of todays closing as its almost crossed the trendline BUT not confirmed yet!. My analysis say the market is at support as of now and we witnessed buyers coming in the moment market went lower to 2074 level. I am still bullish it can go up from here but if it fails the second scenario is the market can come down 2050 which is the low of the current swing high, and thn 2030 level. Once the market is below 2050 the sentiments will be bearish for sure. The more the market stays in the current area 2075 to 2085, the more it accumulates hence bigger the move on either of the sides.I am still bullish and expect market to go up. Hit like & follow :)
DFM:DFMGILong
by stalkstock
3
Dubai Financial MarketAs expected and as per my previous idea, it didnt go low and and through out the day it was almost side ways and gave a closing with a doji candle. Market is Indecisive at this stage & its at the crucial support level also right at the trend line. As mentioned in my previous plan it has to go up from this levels as the market have already consolidated & moved upwards. As long as we are above 2050 level i am bullish on this one i expect a green day tomorrow and a closing above todays candle. Hit Like & follow :)
DFM:DFMGILong
by stalkstock