The general index of the Dubai Financial Market closed at 3298 points at a slight increase of 0.18%, while trading volume reached 214 million dirhams in a significant decline due to investors' reluctance and fear of buying and overcoming the selling and short-selling forces of some investors using the leverage or overdraft .

The 31 companies listed on the Dubai market posted losses or losses while 29 companies reported profits. 25 companies listed on the Abu Dhabi Financial Market Decline or losses while 38 companies announced a profit

It seems that this wave negatively affected investors' decisions, which led the market to continue the decline and break the levels of 3325 points of the previous bottom of December 2017 and the market reached the level of 3280 points, it may seem logical to see a decline in the price of a company has achieved a decline in profits or losses, It is not logical for the market to decline in its entirety and that the main pressure comes from Emaar leader, which is achieving good results and good investment distributions to drop the stock from 7.40 dirham to 6.05, this is not logical, and the same is repeated on the shares achieved good profits but the market treated negatively Complete with all or most stocks, you do This severe bleeding should stop

In general, we recommend in this report to start building the investment and speculative price positions and recommend buying on the selected stocks of good performance. This recommendation is again buying after the bottom of December 3325 points, which then achieved the market up to 3540 points

 

Technical Analysis

General Index of Dubai Financial Market

With the closing of the day at 3298 points, there are signs of technical consolidation of the market with a level of support at 3280 points where the technical indicators indicate the existence of positive breakthroughs support technical rebound, which can extend to the level of 3365 points, which is very stability above it will push us to return above the level of 3432 points , And supports this rise entering the line of time reversal on the opening time of the end of today's session and will extend, God willing, in the next few days or at the minimum will see the market cohesion, the next support in the event of the break is 3280 is 3250 points, and consequently we recommend buying shares in general Speculative and especially on shares that Net has achieved Positive