dubai stock market possibly finished a very long correction, HIGH probibality that wave 2 or b finished around 2807 which is .784 of wave one from 2590 to 3604
How much further can this stock go down??
last stop to end its 5 way down would be 0.34-0.39.
If we do not see a bounce from there, there is only two scenarios that I foresee:
1. Stock getting de-listed from DFM.
2. Stock dilution to increase the current value, and doing another initial public offering for new shares.
most likely #2 will be the action that...
The stock is believed to be forming a bottom at current levels. Trading strategy would be buying at current market prices and wait for 0.45 level as first target, then breaking this level would give us the green light to target 0.55 then 0.60 on mid-term.
