UAE - DAILY TECHNICALS

Equity Research
Sanyalak Manibhandu
Head Of Research
+971 2 6161637
sanyalaksna.manibhandu@nbad.com
Shiv Prakash
Senior Research Analyst
+971 2 6161628
shiv.prakash@nbad.com
Ahmed Bani Hani
Research Analyst
+971 2 6161629
ahmed.binihani@nbad.com

29th Oct 2015

DFMGI: 3486.80 -0.89%

Lack of buying near the support dragged the market lower and registered another
bearish close at 3486 yesterday. The mid-session recovery until the intraday highs
of 3526 on account of better results from DIB, failed to sustain higher as traders
used the bounce to exit. The selling pressure may gain further momentum if it
remains below the immediate resistance levels of 3530.
The market on Hourly chart somehow found support at the sloping trend line levels
of 3475, still continues to trade below the RSI trendline resistance. A breakout there
may ignite mild recovery but as the daily trend remains bearish, the recovery on
hourly if comes may not sustain for longer. Overall we shall wait for a clear bullish
crossover on the 14 & 21 Hour SMA.
Daily & Weekly charts continue to remain bearish and are headed towards the 3350
and the previous lows in the short term.
ADX: 4321.91 -1.58%
Bearish breakout at the trailing stop levels of 4520 extended the fall and broke
below the 38.2% Fibonacci support level of 4375, headed lower towards 4260 in the
near term. Traders who sold stocks at the initial bearish breakout at 4520 may look
to remain on the sideline until the market forms any clear reversal pattern.
DFMGI: 3530/3580/3625 Resistance
3475/3430/3320 Support

ADX: 4375/4480/4520 Resistance

4290/4260/4150 Support

Sales & Execution

Abu Dhabi Head Office
Trading Desk
+971 2 6161700/1
Dubai DFM Branch
+971 4 3055730
Institutional Desk
+971 4 424 5765
Sales and Marketing
+971 2 6161703

Online Trading Link

Advisory Desk
Ahmed M. Shehada
Head of Advisory & Institutional Desk
+97126161633
+971 4 4245708
Ahmed.Shehada@nbad.com

NBADS UAE Technical Report 29th Oct 2015

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GULFNAV

Daily Chart

Resistance: 0.51/0.52/0.535
Support:0.48/0.465/0.45

The trend on the daily chart still

remains bullish but the negative
divergence on RSI hints consolidation
may form head & shoulder reversal
and target the channel supports
again.
On the moving average front there is
still no sell signal generated as they
lag and tend to give signals only
when the price penetrates them.
Currently the stock is seen taking
support at the AED0.47 level and
may recover towards the AED0.52
and the previous highs which traders
should use to book profits.
Those who do not have positions may
look to buy intraday while placing
stops below AED0.475 level.
TRADING IDEA:
BOOK PROFITS ON RALLY

DIB

Weekly Chart

Resistance: 6.50/6.57/6.65
Support: 6.33/6.25/6.17

The stock turned bearish despite

good results also the selling volumes
were seen higher in comparison to
the buying.
RSI formed a reversal and broke
below the trendline and the neckline
support levels, hints further drop
towards AED6.17/6.00 on the weekly
chart.
Also seen trading below the 14, 21 &
50 Week SMA levels.
Only a close over the resistance of
AED6.78 shall turn the trend up.
The stock was recommended a sell
at AED6.51 in the 27th Oct Tech
report.
TRADING IDEA: SELL BELOW 6.40

NBADS UAE Technical Report 29th Oct 2015

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DFM

Weeky Chart

Resistance: 1.48/1.50/1.52
Support: 1.42/1.40/1.37

The stock fell to test the previous

lows at AED1.40 and if fails to hold
over it shall target the next support
zone at AED1.31 in the short term.
Traders may look to stand aside and
wait for a clear reversal pattern from
the support zone.
TRADING IDEA: STAND ASIDE

FGB

Daily Chart

Resistance: 12.65/12.85/13.00
Support: 12.30/12.05/11.75

The stock was recommended a sell at

AED13.15 in 27th Oct Tech report and
is almost closer to test the second
target of AED12.10.
Any further break may ignite next
selloff to hit the 100% Fibonacci
extension levels of AED11.55 in the
short term.
Traders who sold on higher
recommended levels may look to
remain on the sideline and buy only
when it forms a clear reversal from
the lower support zone.
TRADING IDEA: STAND ASIDE

NBADS UAE Technical Report 29th Oct 2015

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DFMGI Intraday Support & Resistance Levels

Close

S1

S2

S3

R1

R2

R3

3486.80

3467

3447

3417

3517

3547

3577

AIR ARABIA

1.37

1.36

1.35

1.34

1.38

1.39

1.40

AJMAN BANK

1.83

1.82

1.81

1.80

1.84

1.85

1.86

AL SALAM BANK BAH

1.02

0.99

0.97

0.95

1.04

1.06

1.07

AMANAT

0.762

0.752

0.742

0.729

0.775

0.788

0.801

AMLAK FINANCE

1.73

1.69

1.64

1.60

1.78

1.82

1.87

ARABTEC

1.64

1.61

1.57

1.54

1.68

1.71

1.75

ARAMEX

3.06

3.04

3.02

2.98

3.10

3.14

3.18

DAMAC PROPERTES

3.01

2.98

2.95

2.90

3.06

3.11

3.16

DIC

2.26

2.23

2.21

2.17

2.29

2.33

2.36

AMAN

0.638

0.620

0.602

0.593

0.647

0.656

0.665

DIB

6.41

6.33

6.25

6.09

6.57

6.73

6.89

DEYAAR

0.591

0.582

0.573

0.558

0.606

0.621

0.636

DFM

1.45

1.41

1.38

1.33

1.49

1.54

1.58

DRAKE & SCULL

0.570

0.560

0.551

0.543

0.577

0.585

0.592

DUBAI PARKS

1.25

1.24

1.22

1.21

1.27

1.28

1.30

DU

5.06

5.04

5.02

4.99

5.09

5.12

5.15

EMAAR MALLS

3.09

3.04

2.98

2.96

3.12

3.14

3.17

EMAAR PROPERTIES

6.40

6.33

6.27

6.20

6.46

6.53

6.59

ENBD

8.90

8.89

8.88

8.86

8.92

8.94

8.96

GGICO

0.690

0.687

0.683

0.677

0.697

0.703

0.710

GULF NAVIGATION

0.496

0.484

0.472

0.466

0.502

0.508

0.514

GULF FIN HOUSE

0.507

0.500

0.494

0.486

0.514

0.522

0.529

SALAMA

0.463

0.455

0.448

0.442

0.468

0.474

0.479

SHUAA CAPITAL

0.500

0.491

0.481

0.463

0.519

0.537

0.556

TABREED

1.16

1.14

1.13

1.12

1.17

1.19

1.20

UNION PROP

0.86

0.84

0.83

0.82

0.87

0.88

0.90

DFMGI

NBADS UAE Technical Report 29th Oct 2015

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ADX Intraday Support & Resistance Levels

Close

S1

S2

S3

R1

R2

R3

ADX

4322

4288

4253

4198

4377

4432

4487

ALDAR PROPERTIES

2.25

2.23

2.21

2.18

2.28

2.31

2.34

ADCB

7.64

7.53

7.41

7.31

7.75

7.85

7.96

ADIB

4.20

4.19

4.18

4.17

4.21

4.22

4.23

DANA GAS

0.46

0.46

0.45

0.44

0.47

0.48

0.49

ESHRAQ

0.62

0.61

0.60

0.59

0.63

0.64

0.65

FIRST GULF BANK

12.50

12.28

12.07

11.68

12.88

13.27

13.65

MANAZEL

0.63

0.61

0.59

0.58

0.64

0.65

0.66

NBAD

9.00

8.95

8.90

8.81

9.05

9.11

9.16

ETISALAT

15.00

14.92

14.83

14.72

15.12

15.23

15.35

METHAQ

0.78

0.77

0.76

0.74

0.80

0.82

0.84

RAKCC

0.84

0.83

0.82

0.81

0.85

0.86

0.87

RAK PROPERTIES

0.57

0.56

0.55

0.54

0.58

0.59

0.60

UNB

5.64

5.60

5.55

5.53

5.67

5.69

5.72

WAHA CAPITAL

2.14

2.11

2.09

2.05

2.17

2.21

2.24

DISCLAIMER: This report has been prepared and issued by NBAD Securities which is authorised by the UAE Securities and Commodities
Authority, licensing registration number 604002, on the basis of publicly available information and other resources considered reliable. This
report is not to be construed as an offer to buy or sell securities. While utmost care has been taken to ensure that the information provided is
accurate and correct, neither NBAD Securities nor any of its employees shall, in any way, be responsible for the contents. NBAD Securities is a
subsidiary of National Bank of Abu Dhabi and is licensed by Securities and Commodities Authority.

NBADS UAE Technical Report 29th Oct 2015

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