50% of the trading volume was @14:10 .. This is THE happy ending & game changer.
detailed MTF analysis.
I am already investing in ADIB, and is my first choice.
I am biased toward ADIB, and have great confidence in his management & BoD.
Trading above the the bullish order block
Poor daily volume
Resistance + 75.20, 75.75, and 76EGP
RULE of THUMB: comi breakout leads to FERTILIZERS eclipse
MTF indicating ending the correction
Market structure Bull
FVGs filled
still some business are non-completed @90.5 EGP
once crossing this price band, heading toward 105EGP
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.
1H timeframe Target to continue the outbreak 28,411 - 28,785, and final destination 29,688.
If $ parralel rate drops excpect to reach 27,925 Points (1.69%)
CIB ending correction with one green Bar on a daily timeframe.
Target setting on 1 hour timeframe
Market entry on 5 minutes timeframe
Suggested Buy position @ 79 EGP
Stop Loss @ 78 EGP
Take profit @ 84.5EGP
Disclaimer:
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or...
COMI, MFPC, ABUK, ALCN, AMOC, SKPC, BINV, EGCH, & sugar are the main drivers for the fall.
Traders' sentiment is to trade in strong balance sheets with solid fixed assets as well as avoiding trading in MYX:REVENUE stocks.
EGX30 is heading toward 26,600 points to end this correction or the correction will end as soon as FLOATING the EGP.
Complete analysis on 1D, 1-4 Hours, 30 min, 15 min, and 5 minutes timeframes.
Downtrending and heading to reach 48EGP.
USD/EGPp is downtrending as well.
positive outlook after correction. confirmation after on complete candlestick on 15 minutes timeframe and/or 2 COMPLETE candlesticks on 5 minutes timeframe crossing 0.547 EGP +++++ CHIKOU span MUST BE ABOVE THE TRADING CANDLESTICKS
TARGET 0.576EGP
