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28/12/2014 06:33 AST
The QSE index bounced off the strong long-term uptrend line and gained 11.33% from for the week. The general sentiment is still positive given the relative stability of oil prices. The good news is that this bounce was accompanied by higher volumes, suggesting further increase in the level of the Index is possible. The apparent price pattern is a broadening triangle, which implies more volatility; no specific direction on the short-term is noticed. Indicators are mostly on the neutral side. The next expected resistance levels are placed at 13,000 and 13,700. It is imperative for the Index to stay above the 10,900 level to be on the healthy side of the trend.
Gulf Times
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
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