Swing traders remain active in banking shares on #UAE bourses

Swing traders remain active in banking shares on UAE bourses:

Swing traders were active on Sunday buying banking shares from their support level on UAE bourses.

Union National Bank closed 0.93 per cent higher at Dh5.40, after its shares took support at Dh5.30 on Thursday. Abu Dhabi Commercial Bank ended 1.31 per cent higher at Dh9.31. Abu Dhabi Islamic Bank closed 2.31 per cent higher at Dh4.40. “

Traders may look to buy Union National Bank. We expect recovery towards the recent high at Dh5.60,” Shiv Prakash, senior analyst with First Abu Dhabi Bank Securities said in a note. On the losing side, Aldar Properties closed 1.04 per cent lower at Dh1.91. First Abu Dhabi Bank ended 0.97 per cent lower at Dh14.36. Etisalat closed 1.07 per cent lower at Dh16.70. The Abu Dhabi Securities Exchange general index closed 0.41 per cent lower at 4,977.29.