Economy / United Arab Emirates
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Stocks Weak, Downside Risk For Real Estate
August 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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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.