updated due to dividends today, still uptrending for fixed target 55.63 and pattern target 51.98 , best wishes
update of the previous technical analysis #Commercial_International_Bank #Egyptian_Exchange!
Commercial International Bank | Egypt | Technical analysis A symmetrical triangle is observed on the weekly chart. Calls for further decline Note that the pattern is inside the big megaphone pattern !! The target of the symmetric triangle is 52,000 And the support of megaphone pattern @ 49,000-48,000
COMI or CIB bank at a critical point reaching the upper side of downtrend channel and a resistance at 60.00 EGP watch CIB if break above 61 can reach 68 if can not break current level it will back to 52 level
Expecting a type 2 return to the levels of 52 to setup for Type 2 target
it is expected that the stock will reverse its direction and continue in a bullish sign
Humbled, we would like to thanks for your support who has already liked, commented and followed us. Your support, strengthens us, to help in analyzing the market. If you have any questions, do not be hesitant to send us message (inbox). Again, We have also provide signal recommendation with detail instruction. COMI (EGX) - Still in sideway
Today CIB start its final phase in its correction towards 53 L.E approximately After that I expect strong rebound support EGX 30 to retest 11100 Point
A strong bullish trend break from 2016 The stock is expected to decline to test the support of Area 41 and 37