
FTSE ADX GENERAL INDEX: TECHNICAL ANALYSIS

Breakout Alert
- The FTSE ADX General Index has broken out of its Falling Wedge pattern, paving the way for further upside movement.
Key Resistance Level Ahead
- A crucial resistance zone is expected between 9,900 and 10,000. A breakout above this level could trigger a sharp rally.
Top Stocks to Watch
As market sentiment shifts towards the positive, numerous stocks have emerged as key candidates to watch, offering promising opportunities for potential profits.
1. First Abu Dhabi Bank (FAB)

- After a sharp decline from its peak, the stock has entered a lengthy consolidation phase and formed a Rectangle pattern.
- A breakout is expected soon, which may drive the price to upper levels.
2. Abu Dhabi Commercial Bank (ADCB)

- The stock previously consolidated for a prolonged period and developed a Rounding Bottom pattern.
- After the breakout, the price gained momentum and is currently trading at an all-time high, with expectations of further upmove.
3. Abu Dhabi Islamic Bank (ADIB)

- This stock is in a strong uptrend, having formed multiple bullish chart patterns.
- The price recently broke out from an ascending parallel channel and is trading at its all-time high, with further upside anticipated.
4. Sharjah Islamic Bank (SIB)

- After a deep consolidation phase, the stock has developed a Rounding Bottom pattern.
- With a recent breakout, the price is currently trading just shy of its all-time high and is expected to exceed this level soon.