ascending triangle provides good entry at 13.00 level to aim the target 15.20 with a stop loss closing under 12.60
Short position is still open from March 2019. EGX symbols are pretty interesting to study, the lack of HFT firms is probably the main reason for the perfect alignment with the symbol's fundamental health. The mega industrial boom generated massive investors interest during the past 4-5 years, followed by the COVID crises, EGX suffered major damage however, our...
Short position is still open from May 2020@ 15.20K, no close yet however approaching a critical decision point for EGX30
Retracement in the next few days then it will continue in Up Trend
If the shown flag break down (True break for 1.588 L.E) , the stock will retest the previous covid 19 low This not mean the stock will reach the previous bottom exactly , The stock can react like "Abuk" This only valid if the flag pattern break down Breaking up is also probable with lower possibility
Sideway movement after an uptrend which means a pick up period for gaining more and increasing momentum , a nice shark 32 pattern is on weekly chart Target = 11.88 Stop loss = 9.80 Good luck