- For a ticker like HRHO with all its outstanding shares to be holding like that may be signaling
a continuation to the upside towards ATH.
- trade it on a breakout or buy it now with a clear risk defined.
- Im being asked to give a price to where it will go but I lost my crystal ball.
- Size according to your risk tolerance, there is no certainty in trading.
Given the current market conditions, we’ll integrate a detailed analysis of EGX30 using a variety of technical indicators: Price Action, Ichimoku Cloud, Bollinger Bands, ATR (Average True Range), Support & Resistance, Cash Flow, PVT (Price Volume Trend), and the Law of Diminishing Returns. Let’s go step by step.
1. Price Action Overview:
• Current Price:...
- While the whole market is trending with no questions asked, ECAP is still hanging where a great R:R exists.
- But, it in fact went up a lot from high 18 to high 23.
- A beaten down ticker is not that attractive until the market says so.
- it is still hanging around a good entry area.
- the upside short term may be limited to 0.50 to 1 pound of gain (aka 7).
However OBRI has a history of being highly volatile, do we get that during the coming months?
- Consolidation after an impulsive move with a resistance around 3.08
- Breakout from this level can send it to 3.20 - 3.30 (3.40 or higher if the market keeps its momentum)
- find a good entry and set a stoploss with a good R:R.
-Size only to your comfort level because its all mere probability.
- Probably the best looking chart at the moment in the market.
- market needs to be bullish for this trade to work.
- its hanging now around a good R:R.
- We have a gap on the monthly around the 16.40. Once we break the 14 area, we may get an impulsive move towards the gap.
Both indicators have exhibited typical performance patterns. After experiencing a series of 9 and 11 consecutive downtrending days, respectively, both indicators concluded their declines with the formation of a doji candlestick, signaling potential reversal or indecision. The short-term downtrend spanning 9 days has effectively ended for both indices. However,...
With the EGX30 index showing a promising 1.44% increase in EGP, it's a bit like the Egyptian national football team clinching a spot in the World Cup, driven by Mo Salah's dazzling offense and Shinawy's impenetrable goalkeeping, reminiscent of the mighty Aswan Dam. The difference between the EGX30's actual value in EGP (25,896) and its USD equivalent (25,528) is...
EGX30 Technical Analysis: The Tale of King Tut and the Building of the Pyramids
I n the grand tapestry of the Egyptian markets, the current technical readings for the EGX30 are akin to the hieroglyphs etched in the ancient walls of King Tut’s tomb:
• TRIX: Like the rising sun over the Nile, the TRIX indicator is ascending but remains below the zero line,...
Today, the Heikin Ashi candle closed green at 26,146, while the traditional OHLC candlestick closed at 27,089. With yesterday's candle being red, we are on the brink of a bullish TK cross tomorrow. It's like winning the English Championship League, similar to Mo Salah scoring the decisive goal. HOOOOORRRAy!
In the last 9 days, the price has made a comeback to the trend line after playing outside it for 11 days, much like a footballer returning from a red card suspension. It's still dribbling below the red Kumo cloud, signaling a bearish trend, akin to a relegation battle. Today's Heikin Ashi bar is solid red with a long wick that's 1.5 times the size of the bar,...
In the last 9 days, the price has made a comeback to the trend line after playing outside it for 11 days, much like a footballer returning from a red card suspension. It's still dribbling below the red Kumo cloud, signaling a bearish trend, akin to a relegation battle. Today's Heikin Ashi bar is solid red with a long wick that's 1.5 times the size of the bar,...
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...
- ONLY if all stars are aligned.
- Resistance @ 75.70- 76.40, if the market is able to breakout these levels, high probability that CIB will at least poke 78.70.
- Day trading is highly risky, risk only what you can afford to lose.
- Bearish market cancels the trade.
Navigating Trends: A Comprehensive Analysis of Market Indices for Enhanced Decision-Making
The EGX30 is currently consolidating following a significant 9% uptrend, aligning back with the trend line. Although today's Heikin Ashi candlestick is red for the second consecutive day, it is shorter than the previous one following the 9% rally. The support at 26,950...
EGX30 Technical Analysis and Trading Recommendations for Short Term & Medium-Term Traders:
Analysis Summary:
- The EGX30 index has shown three consecutive green Heikin Ashi candles with long wicks indicating potential bullish momentum.
- The index is currently below the Kumo cloud, with the Chikou Span pointing upwards, suggesting further upward potential.
- A...
- EGX100 is down around 27% from its high.
- Today it hit a very important level, the 200 day MA which was tested before on March 2023, and also if we measure the fib level, we find that it retraced to a 50% level.
- This also occurs while EGX30 hitting its 200 day MA as well.
- Now we can never know for sure if this bottom or not, but we can be prepared for...
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...
