Emaar Properties Trading Outlook

Emaar Properties Trading Outlook

Emaar Properties Trading Outlook

HEFFX Notes

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 6.54.

The projected upper bound is: 7.26.

The projected lower bound is: 6.67.

The projected closing price is: 6.96.

EMAAR PROPERTIES closed up 0.130 at 6.950. Volume was 25% above average (neutral) and Bollinger Bands were 37% wider than normal.

Open High Low Close Volume___
6.890 6.980 6.880 6.950 11,425,005

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 6.92 6.43 6.01
Volatility: 27 29 42
Volume: 11,299,605 7,947,152 11,302,073

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

EMAAR PROPERTIES is currently 15.6% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect very strong flows of volume into EMAR.DU (bullish). Our trend forecasting oscillators are currently bullish on EMAR.DU and have had this outlook for the last 15 periods.

Emaar Properties said Sunday its profits in the second quarter of 2016 grew by eight percent to 346 million as sales increased.

Revenues of the group, which built the world’s tallest tower Burj Khalifa, rose by seven percent to 3.728 billion dirhams (1.015 billion), compared to the same period last year, it said in a statement.

In the first half of the year, profit was 12 percent up to 2.475 billion dirhams, with revenues increasing 11 percent to 7.257 billion dirhams.

Emaar’s property sales in Dubai in the first six months surged 45 percent to 2.411 billion, “highlighting strong investor demand for Emaar’s iconic developments,” the group said.

ubai’s real estate sector has slowed down with residential prices dropping around 12 percent last year as demand from overseas has fallen.

Emaar’s recurring revenues from retail and hospitality amounted to 40 percent of total revenues in the first half of the year.

“We are… strengthening our hospitality portfolio with 35 new hotels and serviced residences in the UAE and international markets,” said Emaar Properties Chairman Mohamed Alabbar.

Emaar said in March it will build a viewing tower that will be “a notch” taller than Burj Khalifa and cost around 1 billion.

Burj Khalifa, which opened in January 2010, is 828 metres (2,700 feet) high and cost 1.5 billion to build.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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