Industrial & Engineering Enterprises Co. (IEEC) – EGX, Daily Chart
Entry Zone: 0.345 – 0.353
Stop Loss: 0.326
Target 1: 0.380 – 0.385
Target 2: 0.410
Bullish Scenario:
The stock has successfully broken out of a symmetrical consolidation pattern, supported by rising moving averages and stronger bullish candles. As long as the price sustains above 0.345, the momentum favors a move towards the first resistance zone at 0.380 – 0.385. A confirmed breakout above this zone could accelerate the rally towards 0.410.
Bearish Scenario:
Failure to hold above the entry zone, particularly a daily close below 0.326, would invalidate the bullish outlook and expose the stock to further downside pressure.
Conclusion:
The setup offers a favorable risk-to-reward ratio, with the stock currently trading inside the defined entry zone. Monitoring the price action near 0.385 is crucial, as this level represents a decisive resistance for the next leg higher.
Entry Zone: 0.345 – 0.353
Stop Loss: 0.326
Target 1: 0.380 – 0.385
Target 2: 0.410
Bullish Scenario:
The stock has successfully broken out of a symmetrical consolidation pattern, supported by rising moving averages and stronger bullish candles. As long as the price sustains above 0.345, the momentum favors a move towards the first resistance zone at 0.380 – 0.385. A confirmed breakout above this zone could accelerate the rally towards 0.410.
Bearish Scenario:
Failure to hold above the entry zone, particularly a daily close below 0.326, would invalidate the bullish outlook and expose the stock to further downside pressure.
Conclusion:
The setup offers a favorable risk-to-reward ratio, with the stock currently trading inside the defined entry zone. Monitoring the price action near 0.385 is crucial, as this level represents a decisive resistance for the next leg higher.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.