ALDAR Technical OverviewPosted on Monday, October 23 2017 at 4:38 am GMT+0000
Long term traders should remain on the side awaiting an end with this descent accompanied by clear Bullish reversal patterns in order to initiate long positions. While in the medium term, the share is still maintaining its strong Bullish prospects. With the correction approaching the 2.40 level, an area which saw some congestion during July and August, focus turns towards clear reversal signs near that level before confirming any possibility of a further rally above previous highs at 2.50. Any extended move above 2.50 will set target initially towards 2.56.