I would like to request for expert opinions for these two stocks, as i'am holding them since long time ...
Hi Rashed
Bloomberg wrote:
Tabreed Falls to Lowest Level in Two Months as S&P Downgrades .Feb. 28 (Bloomberg) -- National Central Cooling Co. dropped to the lowest level in more than two months after the United Arab Emirates-based refrigeration company’s rating was cut by Standard & Poor’s.
The shares slid as much as 4.7 percent, the lowest intraday level since Dec. 10, to 0.61 dirham. They traded at 0.62 dirham at 12:46 p.m. in Dubai.
S&P lowered the company known as Tabreed to CCC+ from B+.
This may have a significant effect on Tabreed, especially in the current environment.
"Cash" generating stocks are the ones to look out for.
For Example: Airarabia, DFM, Agthia etc.
Whilst the market is adjusting to the "unknowns" with the banks and developers, it is better to look at the few stocks that dont fall into these categories.
In saying that, there are better places, (and less risk), to invest in at the moment...like selling your stock, and wait for the bottom on the Euro or GBP at the end of the month!
I was hoping to receive a response to my earlier post on how to post a chart but since I didn't, I would go ahead and point out that EMAAR has broken a trend line to the upside today with decent volume for the past 3-4 days, indicating accumulation (atleast for short term). Check out your own charts for now.
I missed the initial 2.77 price because I already had a entry price of 2.70-2.75 in mind. Expecting a two fils better entry than 2.77 to enter EMAAR made me lose a nice entry. Regardless! there is still short term potential to the upside since it has confirmed a near term bottom.
If EMAAR is a leading real estate stock then we MIGHT see it leading the way for UPP as well (We might!).
I was hoping to receive a response to my earlier post on how to post a chart but since I didn't, I would ...
May be best to load it at any image hosting site and attach a link
I would agree the downtrend seems stopped for the past week but it think we will only see very limited rebound and range bound tradind betweek 1580 and 1620.
there are no enough volumes to break any solid resistance now, but in the same time those who are left in the market are not eager to sell anymore. Only few who gave up on the market are bailing out at any cost.
The big guys and funds will not make any move till they get advance news on DW proposal.
Day trading can generate few fils every day from now till the end of March
How would the market react in the morning after hearing from DFM & ARTC ?
Would they shift directions into a safer Stock or would just sell out and say not worth the gamble in DFM stocks.
Personaly i would sell until a tighter regulation is in place, previously no one was asking as long as there was easy money to be made, but now in my openion market has been controlled by a few investors raising ,plumiting or holding a particular stock from moving at any given time.
Last year some investors were stopped from trading and soon later things looked good and now we see a repeat with no one investigating any trades, or if they are nothing is being done so far.
DFM, should set an example to all other companies by declaring 1st their audit report and not last, since 3rd week of Feb someone knew it seems the results of DFM.
I just hope for tighter rules on trading within the DFM stock market.
With all the uncertainty surrounding property, construction and banks, and whether companies will get "full" payment for the services/goods that they deliver, i think there is only one of a few safe places...Airarabia is one!
Its either that, or liquidate and look at other alternative less risky markets/investments.
I agree with Sam that the volume expected with break out was not as attractive but volume is not the only pre-req for it either. I would not ignore the fact about relatively high volume around that price zone.
The chart is 2 days outdated and was created right after the break. I will be posting the most recent chart soon..
Your chart is not showing for me traderdon. I think it might be a forum problem. I'll investigate later. If it is, or is not showing, for anyone else, would appreciate a reply here to say so. Thanks . _________________ UAE IPO list | posting guidelines
The red bars that we have been seeing for the last two days on a low volume are giving us an opportunity to hop on. At least that's how i am taking it.
I got in today at 2.97...I know a little high...2.92 was what I was looking for...oh well...
2.91 is a VERY strong support level for tomorrow that should hold, breaking through it would make me cautious and I would accept to be on the wrong side of the move and look for a way out.
I am unable to post any charts at this point. Sharewadi is looking into the issue. If then, anyone requires me to post the chart. I would do so.
i think u should start March topic now...february was hard enough
Yes, the stock markets in the UAE seem to having given up the ghost altogether. Have used GPIC's comment to start new March 2010 marketwatch topic. See February 2010 marketwatch for previous comments.
Today Emaar has reaffirmed my short term bullish position in it.
Emaar has just bounced off of 2.92. We have certain areas higher up where we may find some sell off to the downside but what price to liquidate to cash would be subject to the price action around those resistance areas.
I am looking for some 10-20 fils profit target...if the market pushes hard, it may well be 30 fils...but I will be more conservative and take whatever EMAAR gives away for now
Posted on Sun 07 Mar 2010 15:31 by Novice_investor
sam111sam wrote:
seems that their IPO request has been approved by Indian Stock Marker regulators ...
Hi sam
I dont think that this would be a reason enough for emaar's upmove today...
-getting a approval to load a IPO is not a big thing... its only a approval.
-emaar had a failed ipo last time... and the appetite for reality firms is going down in india... the reality index is still lagging the lead index in terms of the recent recovery..
-emaar is increasing getting associated with dubai in indians markets and dubai is having no good perception in the subcontinent today... i wont be surprised to see another failed ipo...
its something else... could be more to do with the DW settlement...
-its something else... could be more to do with the DW settlement....
You may be right.
Well, the settlement should happen before March 30th, otherwise Dubai may default. So far, Dubai made every single payment on-time.
I don't see Dubai just making this payment in full...As I mentioned before, Dubai has already paid the price of bad publicity and lending rates hike. They will insist on getting some concessions from the bond holders... Otherwise all these bad publicity and suffering went for nothing
Optimally, Dubai should reach agreement on these concessions before March end. This way they will not need to pay, and in the same time they will not be considered as defaulting (officially defaulting may impact the whole UAE)
Anyway, technically the picture looks positive on the charts now... It may encourage technical buyers to jump on to take new positions
Well spotted Online, i think if it trades above 3.48 tommorow, that could be the trigger. Or maybe it still wants to go lower, it only hit 3.42 this Thursday...!
but without a doubt, Aldar has been the weakest stock on both markets...Im not used to seeing it move in the opposite direction of Emaar..
the 5% cash dividend proposed today was low, but its the only real esate co. giving cash away..
Sorouh is giving 5% shares. Upp, Emaar, Deyaar nothing.. Rak prop, i dont know.
Plus, there was yet another downgrade of Aldar by Moody's it seems.. Maybe its 10th downgrade by these rating agencies.
But at these prices, and with all the bad news out of the way, and cousin Emaar healthy again, either it shows some life now, or we could be seeing some lower prices still the coming few days..
Today was expected to be red after the news of DFM 3rd digit news. You can see the negative comment on this news here in the forum last weekend.
But Emaar managed to change the game after the Indian IPO news. So the 3rd digit news is now old and has no further effect.
On the chart you can see clearly that DFMGI has broken the down trend line that was valid since mid Oct peak,...for the first time
This has to be confirmed tomorrow with further green day with same or better volumes than today. .. If confirmed, then we can say that we are starting a new short term up trend that can take DFM to 1700... If we get good news about DW then we can even look at 1850 as a target
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