ALDAR Technical OverviewPosted on Tuesday, January 23 2018 at 5:38 am GMT+0000
Room for further Bullish implications.
Given the above trending characteristics, long and medium term traders should remain outside of the market and aim to reposition only after clear Bullish reversal signs. Although trend characteristics in the medium term has lost strength following the extension above 2.23, bias is still somehow Bearish, a return of Bearish momentum is expected before the strength of the last reaction can be confirmed. While the undertone in the near term continues to remain positive, and the share entered a new leg up breaking above 2.28 where new short term positions should have been activated. Now with the market reaching 2.32, there is scope for a further push higher towards 2.37, and traders can trail their stop orders towards 2.30.