analysis : MFPC-ABUK-SKPC-RAYA Timeframe: 5 MINUTES OUTLOOK Technical indicators : 1-VWAP 2-ELLIOT WAVES 3-ICHIMOKU
ABUK ended last trading session with positive volume & above average. All indicators witnessed the begining of the new era. Targets, and Support & resistance are explained in the idea
positive outlook crossing Green Kumo opens the gateway to heaven Fundamentals analysis is your KSF (key success factor)
68.7-69.5 EGP is THE Bearish order block. Tried to by passed it in Thursday session, and failed. However, the analysis demonstrated end-of-correction.
EGX30: Accumulation Phase didn't end yet. $ & Value Stock will lead.
Urea & White sugar prices increased in the commodities market; this price increase will flirt with the bullish fertilizers sect of the EGX. ABUK & MFPC will lead EGX30 to the 30K Bar. SUGAR is TAILGAITING
Buyers' confidence that MPCO reached its bottom price @74.6 -74.9, will lead to the upswing
Special Message from EGX 30 to COMI & MFPC:"Laissez-moi danser , chanter ... laissez moi " Bullish TK-Cross on daily Timeframe looking forward to reach 29,300 .. Turning point to start dancing Monday & Tuesday. 1.16% point will make Wednesday a brighter day. Thank you Dalida, je vais dancer Monday.
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
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.
High probability trade on ABUK with potential target at 107 and 118. Probability 70%
ABUK, EGX, on 1-hour chart: To test support level 43 - 42 before rebounding to 48. By crossing 48, the next target will be 53 Stop loss at 42 - 40 should be considered, as the stock has over-bought signals in the long term.
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