Rakproperties is looking promising it has retested the support zone twice that is 1.30 and now its gearing up for the next big move. In short to medium term i think this stock will touch 1.50 with new projects and casino coming up Ras Al Khaima property is very hot and investors are grabbing what ever comes on the way. We will surely see a pump in stock price too....
The trend is still positive, for now Rak Properties is establishing its support zone, I think very soon bulls will charge in and push the price higher. I have bought some quantities at 1.14 will wait for a bullish candle to close above 1.16 to add more. Although it can even come down lower to retest 1.10 area. Will wait for price action at that support to buy more...
Trend
Its still in a uptrend but for now its bit extended so a correction is due on this recent rally to the up side. For the last 3 days we are seeing Doji candles at the same place I think it will make a big move very soon.
Support & Resistance
For now next support is around 1.10 zone and resistance is at 1.15 area. I will wait for it to close above 20 day...
Fantastic performance by Rak Properties last week, over all bulls are very aggressive and without any mercy. Bears are not seeing till the end of the ocean for now. We saw huge volumes in this stock and it was top traded stock in Fridays session. I think this rally is here to stay and dip is buying opportunity for now.
Real Estate Boom
With the real estate...
Its talking a pause after strong rally to the upside, i think it will retest 1.10 area again and resume it really again. Over all this stock is very bullish also financials are very strong.
Hit like & follow guys ;)
