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Tech Talk Weekly 25-11-2013

Analysis

As we get closer to the Nov. 27 decision on who will host the Expo 2020, the Dubai equity market is holding on to this year’s strong gains. Expo will bring more dynamism to the UAE economy, especially to the real estate and on service sectors, but how will the market react to a positive decision for Dubai? Earlier this year, Tech Talk drew attention to the improving technical outlook for UAE equity markets, and major indices have since performed strongly. The DFMGI is trending above its 200-day average and is now challenging eight-year resistance at 2,900 levels. Breakout above 2,900 with increasing volumes will be extremely bullish for the market. Failure to break this level, can pull the index back to 2,400 levels, while still keeping the uptrend intact.

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ADIB 13.08 (0.61%)
ADIB has extended gains for the third consecutive trading day, marching higher by 0.51% to close at AED 3.91.

ALIMTIAZ 48.9 (4.26%)
ALIMTIAZ shares touched a fresh 52-week low at 125 Fils.

EQUIPMENT 59.5 (1.19%)
EQUIPMENT shares touched a fresh 52-week low at 25.5 Fils.

TAHSSILAT 38.5 (-3.03%)
TAHSSILAT’s shares dropped by 3.85% to close at 25 Fils, staying in red territory for the third consecutive trading day.

ADIB 13.08 (0.61%)
ADIB has extended gains for the third consecutive trading day, marching higher by 0.51% to close at AED 3.91.

ARMX 2.35 (1.73%)
ARMX’s shares dropped by 1.41% to close at AED 4.2, staying in red territory for the third consecutive trading day.

AMLAK.DFM 0.748 (-0.93%)
AMLAK volume set sold 5.9 million shares, a 3 time increase over the 50-day average.

ABOB 0.15 (-)
ABOB continued its upward march to OMR 0.158 (+1.93%) staying in green territory for the 3rd consecutive trading day.

BKSB 0.146 (-)
BKSB continued its upward march to OMR 0.143 (+1.41%) staying in green territory for the 3rd consecutive trading day.

PETRORABIGH 8.33 (-0.36%)
PETRORABIGH shares have climbed to a 52-week high of SAR 25.50.

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