ALDAR Technical OverviewPosted on Monday, May 1 2017 at 5:43 am GMT+0000
Long term neutral overview, combined with the strong downtrend revealed in the medium term, are obliging traders of both scales to wait for clear Bullish developments before preparing to materialize new Bullish positions. In the short term likewise, the market continues to be strongly Bearish, with the recent break below the 2.22 that accelerated the decline and directed the share towards a new 52 week low at 2.10. Although Bearish momentum has lost some strength lately, a clear break below the 2.10 could restore the Bearish outlook on the hourly charts. Conversely, an immediate break above 2.19 completes an intraday reversal and changes the outlook.