EMAAR Technical Overview

EMAAR Technical Overview

Adding to its Bullish stance.

A change in the long term outlook with the break above the upper boundaries of the range that was capping the share since October 2016, paved the way for further gains in the direction of 8.15 which was reached and 9.30 in the coming couple of weeks given market conditions remain the same. In the medium term the share keeps on adding on to its Bullish stance after the break above 8.66 intraday level where it confirmed its intension to initiate an attempt to clear its previous daily cap and open the way for fresh highs. Renewed medium term positions had been triggered at that point, with targets outlined at 9.30 and 9.80. At the narrower side, an immediate continuation above 8.81 could act as a motive for short term players who are searching for new entry points.