EMAAR Technical OverviewPosted on Wednesday, August 2 2017 at 4:46 am GMT+0000
Weekly initial targets.
After reaching a strong demand area on the weekly timeframe, Bullish pressure was initiated pushing the share beyond the upper level of the long term range that was in place since December 2016. Now that initial weekly targets reached at 8.15, allowing long term traders to take partial exit and trail positions to the 7.80 level. Also first targets for medium and short term traders who decided to join the strong rally had been reached. Therefore hey are advised to move their Stop orders to their entry prices while patiently hold their remaining longs towards 8.45 and 8.65 correspondingly.