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MPRC trade ideas

MPRC - Announce your seriousness about raising pricesEGX:MPRC timeframe: 2 hours Identified a bearish Gartley pattern with: - Sell point: ~36.00 - Targets: T1 at 34.30, T2 at 33.00 - Stop loss/rebuy: 36.60 If prices close above 36.60, the next resistance at 37.33 (1.618 extension of XA) could serve as another sell point. All data is on the chart. The MACD shows a negative signal, supporting the bearish outlook. Meanwhile, EGX30/EGX70 are hitting new highs, which might push prices higher. Given the multiple scenarios, adhere to stop losses or rebuy points to protect profits and minimize losses. Disclaimer: Not investment advice; consult your account manager before acting. Good luck.
EGX:MPRCShort
by tfcgeorge
$MPRC - Beware of the bears trap** EGX:MPRC - 1-Day Timeframe** A highly complete bearish Gartley pattern is forming. - **Sell Point:** Around 26.50 - **Stop Loss/Reentry:** 28.17 (estimated loss: -7.00%). A close above 28.17 would signal continued upward momentum. - **First Target:** 23.70 (estimated profit: 10.40%) - **Second Target:** 22.00 (estimated profit: up to 16.87%) **Notes:** - The RSI shows weakness but remains above 70, indicating strength. A close below 70 would signal a halt to the upward trend. Until then, the stock remains positive for the long term. - This analysis is based on the 1-day timeframe. **Disclaimer:** This is not investment advice—only my interpretation of the chart data. Consult your account manager before making any decisions. Good luck!
EGX:MPRCShort
by tfcgeorge
2
- **Entry Plan:** Expecting a **reversal from the trendlineBased on your chart analysis: - **Entry Plan:** Expecting a **reversal from the trendline** and **60% Fibonacci level**, you plan to **start Dollar-Cost Averaging (DCA)** at current levels. - **Stop Loss:** Placed at **13 EGP** to limit downside risk. - **Take Profit:** Targeting **27 EGP** for a solid risk-reward ratio. ### **Additional Observations:** 1. **Trendline Support:** The price is near a long-term **ascending trendline**, which has acted as support before. 2. **Indicators:** - The **moving average** (black line) shows a consolidation phase. - **Momentum indicators** at the bottom suggest a potential reversal. 3. **Risk Management:** - DCA is a good strategy if the price dips further before bouncing. - The **stop loss at 13 EGP** is placed wisely below support to avoid unnecessary risk. - The **profit target at 27 EGP** aligns with a previous resistance level. Would you like a more detailed breakdown or adjustments to your trading plan? 🚀📈
EGX:MPRC
by TONYMONTANA87