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EGX30

$EGX:ESRS EGX:ESRS The uptrend started from the bottom of last October at a price of 13.02, then hit the 90-degree angle at a price of 17.63. The stock then rebounded from the 45-degree sub-angle and resumed its rise. The 90-degree angle was broken, making it the best buying area. The target of the uptrend cycle was 31.45, which is the 360-degree angle that the stock achieved and rebounded from. Then it resumed its rise to enter a new uptrend cycle, whose first targets were the 450-degree angle that the stock achieved early on. It continued its early rise to achieve two new targets, which are the 540 and 630 angles continuously. All this early rise supports the stock’s decline downwards, which happened, then the stock resumed its rise to complete its cycle. The stock broke the 450-degree angle at a price of 36.06 upwards, which is the best buying area when broken. The rest of the targets and supports are shown in the drawing. The success of this pattern depends on the stock staying within the channel and not breaking the angle downwards and achieving its targets on time. The information and publications are not intended to be or constitute any financial, investment, commercial or other types of advice or recommendations provided.
ELong
by xxehab5xx
A Painful Q2 for EGX?We had quite an impulsive run on EGX30 since summer 2022 with more than 105% gain however, nothing lasts forever :( We're due for a correction!! In the light of my elliot wave count, we should anticipate wave 4 to correct anywhere between 11 - 30%. I personally expect a 24% correction to meet the golden ratio (0.618 feb) for the retracement, with an invalidation below 12700. Generally, wave 4 is where everyone gets frustrated and we can easily see this happening with the current overall sentiment in Egypt hitting seriously low levels while inflation skyrockets and fears of further devaluation of the EGP builds up. This won't last long however. If my forecasts were correct, we should be over by May or June, and those who kept their patience and built positions during the correction will profit without a doubt. Let's see where we will go :)
EGX:EGX30Short
by amourification
EGX30 | BRICS RoadMapEgypt Joins the BRICS New Development Bank the NDB finances infrastructure and sustainable development projects in areas such as energy, transportation, water, communications, and health. "Since 2016, the Bank has invested in multiple projects, including US$7.2 billion in India alone," RT reported, recalling that Egypt expressed an interest in becoming an NDB member in July. "BRICS is working to develop its own financial infrastructure, including a joint payment network, with some member states having already switched to trade in local currencies in order to reduce dependence on the U.S. dollar and euro," it added. Currently, Egyptian President Al Sissi is in Saudi Arabia participating in the summit of Arab countries with China, the nation with the largest economy among the BRICS. Egyptian Finance Minister Mohamed Maait affirmed his country's enthusiasm for enhancing cooperation with international development partners, especially in light of the "unprecedented development movement" he is witnessing in Cairo. Previously, the Chinese Foreign Affairs Ministry has noted that Argentina, Algeria, Iran, Indonesia, Turkey and Saudi Arabia are also interested in joining the BRICS bloc.
EGX:EGX30Long
by ShoeIsRich