Egx30 is performing 4 consecutive down sessions , an expected retest of 10882-10775.44 level as a pullback , however it may continue to 12026 as a wave end otherwise it retraces till 10519.6 where it may rebound
1- if we see weekly close above 10940 bulls taking the trend higher 1st target 11240
2- if we see weekly close down 10830 bears taking the trend down again 1st target 10370
Good luck every one
The main Egyptian stock index “egx30” is currently testing the resistance level at 10,840 points.
Breaching the previous resistance levels and the upper boundary of the descending channel is necessary for the continuation of the rise to 12000 points.
There is another chance in case the previous breach fails, which is to go back again to 10,000 points and form a...
EGX30 " Monthly
with three levels of moving up support lines and monthly stop 9769 awaiting confirmation to cross the down trend since 2018 ,crossing 12000 range shall be a more confirmation for future uptrend
Today I would like to share my idea with you about EGX30 .. weekly timeframe
What I am searching for right now are three:
1. Strong candlestick with a high volume that will assure me that bulls come again
2. Breaking the descending price channel
3. Breaking the supply area
By achieving the past three conditions we will see 13000 and 16000 as a...
EGX 30 still under pressure sold, this paves the road toward 9700, if this level resist, it may bounce up again, else may see 9500
waiting to reach 9700 level is highly recommended, accordingly we could put our entering plan
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...
This idea is based on the article Time Cycle Oscillators, published in IFTA Journal 2018.
As volumes precede prices, the “period of time cycles” precedes volumes.
Hence, the simple harmonic oscillator SHO (blue) is leading to the volume zone oscillator VZO. The latter is created by Walid Khalil.
Negative and positive divergences between the SHO and VZO help in...
$EGX30 a threat to break the uptrend that was created 17 years ago.
EGX30 is the major index of Egypt stock exchange which showed uptrend from 2002
two major technical sign for downside Head and two shoulders
"Time Cycle Oscillators" published in IFTA journal 2018.
"Wave Period Zone Oscillator" published in IFTA Newsletter December, 2017.
Expected volatility after the SHI/SHO/WPO/WPZO forms a pressure wave (PW).
the volatility is higher when the PW is longer.