Zain Kuwait : A Technical Update
16 August 2009
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There has been a lot of chatter in the market about a possible offer from overseas for a large chunk of ZAIN, the premier telecom company based in Kuwait. So I decided to provide a quick technical update on this stock. As you will observe, Zain is trading close to a downtrend line. But the stock remains well-bid and should it break above this line, we should have little difficulty in reaching 1.6750. Buy dips! | |
If you'd like to see how I work through Middle East markets in real depth, I cover this in the impulse and correction chapters of Five Waves to Financial Freedom, the same tools used across every market I trade, including Middle East indices.