Emaar one of the most heavily traded stock in DFM, whats wrong with it? lets analyse and understand. Firstly the immediate trend of this stock is a nice uptrend its making higher highs and higher lows thats a clear definition of a uptrend lets keep it simple. It broke the trend line on 30th june it also retested it the second day and it got rejected in last trading session it opened with a gap up which is a good sign showing that buyers are here and interested to buy this stock BUT heavy selling pressure was witnessed as expected because technically this stock have become week as i mentioned it broke the tradeline. The scary part is that it have started to make lower highs and almost made a lower low yesterday which is a small support area also. A crucial level is at 2.60 area now lets see how it behaves in sundays session. I would stay out of this stock as this looks bearish to me for now.
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