Home > Market Commentaries > Sensational Emaar returns 17%, more gains in sight

Sensational Emaar returns 17%, more gains in sight

Posted: 01/29/2013 - 1:17 pm

On January 15, we advised buying Emaar (EMAR) at 4.06 and we have been bullish on the stock ever since.

In our last update, we said that the stock attained our target at 4.60 and we advised traders to hold on to their positions in anticipation of further gains. Our next target was set around 5.00 (read: Our trade on Emaar gains 13%, more upside in sight).

Indeed, the stock has rallied on to hit a new high of 4.79. Needless to say, this validates our call and puts the target around 5.00 within a closer reach.

At the current price of 4.77, the trade stands to generate c.17% and more upside remain visible.

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