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Salik

Salik Stock Performance UpdateCurrent Price: AED 5.02 Daily Change: Decrease of AED 0.08 (-1.57%) 52-Week Range: Low: AED 3.14 High: AED 5.89 Since its IPO in September 2022 at AED 2 per share, Salik has shown impressive growth of approximately 151% to date. Performance vs. DFMGI (Dubai Financial Market General Index) Salik has significantly outperformed the Dubai Financial Market Index. Salik stock: +151% since IPO DFMGI: Moderate growth over the same period Technical Analysis (Relative Strength Index): 51.9 → Neutral (no overbought or oversold signals) MACD (Moving Average Convergence Divergence): 0 → Momentum is balanced ADX (Average Directional Index): 27.1 → Indicates a weak trend Moving Averages: 5-day MA: AED 5.09 → Buy signal 10-day MA: AED 5.06 → Buy signal 50-day MA: AED 5.10 → Sell signal These indicators suggest the stock is in a sideways trend, with no clear upward or downward direction. Support & Resistance Levels Support: AED 5.02 Resistance: AED 5.18 A breakout above the resistance level could signal further gains, while a break below support might indicate potential downside.
DFM:SALIK1!
by bbitar
Salik Stock Technical AnalysisSalik Stock Overview Ask Price: AED 4.974 – Current Price: AED 4.540 Daily Change: -6.20% (sharp decline) High Price: AED 5.660 – Low Price: AED 4.540 Bid Price: AED 4.817 Technical Analysis 1. General Trend Analysis The stock is in a strong downtrend, with a significant price drop from AED 5.6 to AED 4.54. The price is moving below its moving averages, indicating weak bullish momentum. The presence of strong bearish candles, along with increasing trading volume, confirms continued selling pressure. 2. Support and Resistance Levels Key Support Level: AED 4.50 (If broken, the price may drop further to AED 4.30-4.20). First Resistance Level: AED 4.97 (current ask price). Second Resistance Level: AED 5.20 (significant moving average area). 3. Technical Indicators A. Moving Averages 50-day moving average is above the current price, confirming the downtrend continuation. 200-day moving average remains flat but is close to a bearish crossover with shorter averages, reinforcing bearish sentiment. B. Relative Strength Index (RSI) RSI is currently below 30, indicating oversold conditions, which could lead to a short-term rebound. However, RSI staying below 50 suggests that the overall trend remains negative. C. Trading Volume Analysis Increased trading volume during the price drop suggests strong selling pressure. If volume remains high without a price rebound, the decline could continue. D. Other Indicators Bollinger Bands: The price has broken below the lower band, signaling strong downward momentum with a potential minor bounce. MACD: Remains in the negative zone with a bearish crossover, suggesting continued weak momentum. Future Predictions 1. Possible Bullish Scenario If the price rebounds from AED 4.50, it could rise toward resistance levels at AED 4.97 – 5.20. Signs of a reversal require: RSI moving back above 40. Increased buying volume at support levels. A bullish closing candle above the 50-day moving average. 2. Possible Bearish Scenario If the price breaks below AED 4.50, it may drop toward AED 4.30 – 4.20. A weak RSI and MACD remaining negative indicate that further downside is possible. Overall Trend: Bearish. Oversold signals (RSI <30) may lead to a short-term rebound. AED 4.50 is a critical level, if it holds, a rebound may occur, but if broken, further decline is likely. Cautious investors should wait for clear reversal signals before entering, while high-risk traders may look for a short-term bounce. Recommendation: Exercise caution, wait for technical confirmation before entering a position, and closely monitor the AED 4.50 support level.
DFM:SALIK1!
by bbitar
SALIK: Current Market Status and Future ProspectsThe current share price of SALIK stands at 2.90, reflecting the overall market sentiment towards the company. With a market value of 5,329,289.81, SALIK has managed to garner significant interest from investors, as evident from the trading volume of 1,845,923 shares. This substantial volume indicates that the company's shares are actively being traded, showcasing a high degree of liquidity and an optimistic outlook from the market participants. Key Trading Metrics for SALIK To further analyze SALIK's recent performance in the market, we will examine some key trading metrics. These metrics provide additional context to the company's current market position and investor sentiment. Previous Close: 2.84 The previous close is the price at which the last trade occurred before the market closed. For SALIK, the previous close was 2.84, which serves as a reference point for the current trading session. Opening Price: 2.82 The opening price is the first traded price of a financial instrument in a given trading session. SALIK opened at 2.82, which is slightly below the previous close, indicating a cautious start to the trading session. Last Trade: 2.90 The last trade refers to the most recent transaction that took place for a financial instrument. For SALIK, the last trade occurred at a price of 2.90, which is higher than both the previous close and the opening price, suggesting increased investor confidence. Price Change: 0.06 The price change represents the difference between the current price and the previous close. In the case of SALIK, the price change is 0.06, indicating an upward movement in the share price. Price Change (%): 2.11 The percentage price change is the relative price change expressed as a percentage. For SALIK, the percentage price change is 2.11%, which further emphasizes the positive price movement. Best Bid: 2.83 The best bid is the highest price that a buyer is willing to pay for a financial instrument. In the case of SALIK, the best bid is 2.83, which indicates strong demand from buyers at this price level. Best Ask: 2.90 The best ask is the lowest price at which a seller is willing to sell a financial instrument. For SALIK, the best ask is 2.90, which suggests that sellers are looking for a higher price to offload their shares. These key trading metrics, along with the bid and ask orders and the overall market position, provide a comprehensive overview of SALIK's recent performance in the market. Investors should take these factors into account when making decisions about their investments in SALIK.
DFM:SALIK
by bbitar
Dubai's Salik begins debut trading on DFM at $0.65 The public offering of Dubai's Salik, which raised 3.735 billion UAE dirhams ($1.017 billion), started today at 2.40 UAE dirhams ($0.65) per share. It is up 20% from its IPO price. The company's IPO was over-subscribed by 49 times. It also announced that it would allocate a minimum of 1,000 shares to its subscribers in the first and second batches. In the first five minutes of trading, Salik's volumes exceeded 85 million shares. This was due to the heavy buying by retail investors, who were able to surpass their subscriptions. After five minutes, the stock was trading at around 2.27, up 13 percent. On the other hand, the other DFM counters, such as DEWA, were almost flat. Salik volumes easily crossed 100 million by 10:10AM Dubai time, it's believed that it could easily reach 200 million shares. Now, the total traded value of Salik's shares is around Dh414 million. Based on the current volume, it is believed that the company is poised to become the biggest traded IPO of the year on a listing day. If the market's expectations are met, it will be a remarkable achievement for the Dubai government, which has been aggressively pursuing its efforts to monetise its assets. The strong debut of Salik shows that the country's financial assets are still regarded as top-notch.
DFM:SALIK
by bbitar