#Dubai Stocks Cross Resistance Level Held For a Year: Inside EM - Bloomberg

Dubai Stocks Cross Resistance Level Held For a Year: Inside EM - Bloomberg:

Dubai’s main stock index ended Sunday’s session above a resistance level that it had held for over a year, boosted by continued gains for the biggest listed real-estate developer.

The DFM General Index advanced for an eighth straight session, extending its longest winning streak in over a year. It has crossed above its 100-day moving average for the first time since Jan. 18, 2018.

The stock contributing the most to the gauge’s increase was Emaar Properties PJSC, a bellwether for the local real-estate market, which entered a bull market last week after delivering earnings that surprised analysts on the positive side. Emaar advanced for the seventh session, stretching its longest winning streak since July 2017.