Deyaar Development has a potential of 40% upside!Deyaar is one of the largest developers in Dubai. Its real estate ventures include major growth corridors and prime locations, including Business Bay, Dubai Marina, Al Barsha, DIFC, Jumeirah Lake Towers, Dubai Production City, Dubai Silicon Oasis, Al Barsha South and Al Barsha Heights.
The stock of this company had a breakout from an important horizontal level of AED 0.65 on Monday's trading session. Speaking of the Elliot wave structure of the stock, the company looks to be going into a major bull run as the the latest leg to the upside is supposedly just the wave iii of III of 3(ignore the marking and labeling if you don't follow Elliot waves, just know that the stock can turn into a multi-bagger in future with those kinds of waves unfolding and yet to unfold.)
To talk about the target for the ongoing wave alone, AED 0.95 is the projected target zone for the stock(40% upside from current levels).
As mentioned AED 0.65 was a crucial level for the stock and now the same level should be considered as a strong support for it.
Note*- This post is for educational purpose only. Please do your own analysis/research before taking ang trading/investing decisions.
