ALDAR Technical OverviewPosted on Wednesday, October 4 2017 at 4:49 am GMT+0000
Found solid ground.
The market is continuing to shown signs of a lack of direction and a further consolidation can be expected. However in the short term, after the successful break above 2.32 that marked the exit of the range that was capping the market over the last couple of weeks, the correction initiated from 2.37 is probably experiencing some fatigue as the share bounced back above the 2.25 previous support. A sustained rise above 2.37 will strengthen the short term Bullish prospects and reinstate confidence in a further rise initially towards 2.43. At the other side, a drop below 2.28 will open the way for a further drop below 2.25.