Dubai's Stock Gauge Homes In on Its 50-Day Moving Average: Chart
(Bloomberg) -- 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 from Yousef Gamal El-Din
To contact the reporter on this story: Filipe Pacheco in Dubai at fpacheco4@bloomberg.net.
To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net.
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