On a specialized economic level, after reviewing the financial statements for the first quarter of the stock, the increase in the number of shares was marginal (in the millions) and the increase in earnings per share was also by a fraction of a penny. However, on a technical analysis level of the volume, a state of stability and exchange of shares in large...
The EGX30 index, a benchmark for the Egyptian stock market, faces a critical challenge: the concentration of its weight among a few large companies. As of May 28, 2024, the top three constituents – Commercial International Bank (CIB), Talaat Moustafa Group, and Sweden Electronics – account for a staggering 50% of the index's weight. This excessive concentration...
Market Analysis: XAUUSD and EGX30 Performance amid Liquidity Concerns, Corridor Rate Speculations, and Geopolitical Influences Recent market observations indicate that the XAUUSD (Gold/USD) is experiencing a significant upward trend, potentially reaching new record highs. Conversely, the EGX30 index, whether evaluated in Egyptian Pounds (EGP) or USD, is currently...
On a daily time frame, the EGX30 index remains bearish with low volume and value being evident. The average value per hour is around 450 million. There is a notable difference between the traditional candlestick chart and the Heikin Ashi chart, primarily due to the specific calculation method of Heikin Ashi (Holcomb divided by 4). Looking closer at the one-hour...
Egyptian Pound seems to be stable till the end of 2024 then a potential fallout to be $0.01 which means a $1=100EGP by the first of the year 2025 , unless a US dollar funds could be pushed to the Egyptian economy from the gulf then the fallout for the Egyptian pound will be delayed and will sustain till Mar 2026 , another notice that the falling pivot points...
Tomorrow's session titled "Sweetness of the Soul Before the Deep Dive to End the Correction Wave (c)," we've set our target projections between 28,900 and 30,200. Based on the Ichimoku Kinko Hyo analysis, current trends for the EGX30 do not show positive signals. The index is submerged deep within the Kumo, with the Kijun Sen exerting downward pressure, making it...
EGX30 in KUMO & COMA EMERGENCY BUYER SUPPORT is prescribed
Buy index when breaking out the 28662.327 on daily chart
30-min chart, the stock is trading in a triangle and testing the support line S.30. We should see a rebound to the resistance line S.30 It is tight for a new entry - until we have a direction confirmation. Stop loss below 4.40 should be considered.
30-min chart, ISMQ is trading in a triangle, where the price is in the midway and the direction is downwards to the support line S.30 We should have a direction confirmation before a new buy entry. Crossing above R.30, will push the price to 5.25 Stop loss below 4.60
30-min chart, the stock is trading in a rising channel, and tested the support S30 (30-min support line). The movement should be towards the resistance R30 line, touching at around 3.16 Crossing R30 line, the target should be 3.42 - 3.46 (depending on crossing point) Stop loss below 2.85
Daily chart, the stock has positive signs that it will cross the Resistance line R soon, then the target will be 0.423 after beating the next resistance line R1 Closing above R1 for 2 days will push the price towards 0.560 Stop loss below SL line 0.315
Daily chart, the stock is trying to beat a tough (cluster) resistance zone. Crossing this zone, and closing 2 days above 32.5 will activate the target 39.0 Resistance cluster zone: Resistance line R1 (blue) + Long term RL (dashed green) Stop loss to be considered below S1 line.
MAKE IT OT BREAK IT ... FVG @81.8-82.1EGP is the breaking point to go long or short FOREX IS A VIRTUE COMI is THE key driver for EGX30, its weight is almost 30%, followed by the Fertilizers sector (MFPC & ABUK). When COMI outbreaks, Ferts are SHY.
30-min chart, the stock is trading in a tough zone; there are 2 strong Resistance levels 4.84 and 5.19 So, be careful with this stock; as it flips quickly! Closing and trading 3 candlesticks above 5.21 will activate the target of 6.04, then 6.20 Stop loss below 4.68 - should be considered.
1-hour chart, the stock is trading inside a rising channel. Breakout (crossing upwards), the target will be crossing price + 0.38 Breakdown (crossing downwards), the target will be crossing price - 0.38 Be careful with this stock - it flips up and down quickly!
Daily chart, I am expecting some zigzag trading inside this triangle pattern between R and S lines. Positively, the price is still inside the last green candlestick. After crossing R, the target will be 6.25 then 7.35 Below S, stop loss
11-2-2024 started positive, the 2nd H the market relaxed. this lead to intraday consolidation & correction. Opportunity is confirmed. Intraday Targets: 6.09, 6.19, 6.25, 6.28. Support zones: 4.84, 5.92, 5.98.