analysis performed using the following strategies and indicators:
Ichimoku Kinko Hyo
Law of diminishing returns
Volume price trend
Relative Strength Index (RSI)
Average True Range (ATR)
Linear Regression
FWRY: warrior rest ahead of the next level ... 8EGP Breakout
the closing of the day was the best part of the trading session.
positive sentiments that will lead to crossing the order block; confirmed by chikou span.
Daily chart, the stock is trading in a rising channel, and is inclined to test the support line (Red), then rebound to the resistance line (blue)
Below support, the target is 4.62.
Above the support, the target is 7.76 (Crossing at around 6.66 - 6.70)
As you can see the the graph forms an ascending triangle pattern and it has now stabilized above the last support of 6.65.
If it continues to go down the second support will be over 6.589. However an ascending triangle may imply bullish so if it continue to stabilize over the 6.589 this is a possible bullish up to the 1st resistance @ 6.85 and 2nd resistance @ 7.25
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FWRY (EGX) - Still Bullish Trend
