ALDAR Technical OverviewPosted on Wednesday, May 3 2017 at 4:40 am GMT+0000
Initial targets reached.
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 medium term after a break below the 2.22 that accelerated the decline and directed the share towards a new 52 week low at 2.10, a corrective phase was initiated. While in the short term, a Bullish reversal above 2.19 has activated long positions. And with the market reaching initial targets at 2.23, traders who liquidated partial positions can trail stops to the entry level, protecting against any probable pullback.