Dubai's Stock Gauge Homes In on Its 50-Day Moving Average: ChartBy
Dubai’s main stock benchmark is close to trading above its 50-, 100- and 200- day moving averages for the first time since February. Gains in the United Arab Emirates’s biggest exchange are supported by positive expectations for first-quarter results, says Mohammed Ali Yasin, managing director of NBAD Securities LLC. Investors should expect blue chip stocks such as Emaar Properties PJSC to outperform going forward, and a breakout around the 3,650 level should provide "a bullish signal."
— With assistance by Yousef Gamal El-Din