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Dubai Islamic Bank is currently trading at AED 6.11
The stock started out well, bringing the stock to resistance level of 6.24 dirhams and then the stock started to form negative patterns in the price movement suggest to us the negativity of the next movement. We used the kaghi chart to exclude the visual confusion.
Technical Recommendation:
We recommend taking sell positions from the current levels of AED 6.11
Taking a profit target of AED 5.83
Technical stop AED 6.24
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