Mubasher: Kuwait-based Hits Telecom Holding is one of the few stocks in the UAE stock markets that exhibit a favorable medium-term structure, according to a report released by MubasherTrade Research (MTR).

The telecom operator’s last price is AED 0.479, while it targets AED 0.600 and AED 0.650, respectively.

“The rebound has been observed early this year, following suit of the rest of the stocks in the market,” the report said, adding that “the volume started at April to increase noticeably on Hits Telecom to the fresh historic highs”.

The historical above average significant volume breakout is a positive factor to the overall bullish structure, the report concluded.