ALDAR Technical Overview

ALDAR Technical Overview

Testing 2.37.

In the medium term, the market is continuing to shown signs of a lack of direction and a further consolidation can be expected. However in the short term, the share has initiated a bounce off the 2.28 and is now attempting to retest the previous intraday high of 2.37. Although short term traders are still neutral at the time being, a move above 2.37 would attract interest in the share, indicating to a move initially towards the 2.43 resistance level. However at the critical price level, the 2.28 support continues to providing a shoulder containing any further decline where a confirmed break below lower would bring the Bears back in control, driving the share below 2.25.