Stocks Weak, Downside Risk For Real Estate

August 2008 | Market Strategy

We remain cautious UAE stocks, with even our preferred Abu Dhabi Securities Market (ADSM) looking weak. As the daily chart below shows, the ADSM is currently trading around short-term support at 4,900 once again. Although this level has held several times over the last few months, a break now could potentially set up losses towards the 4,600 region.

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