EGX30 1H time frame:target remains 33750 points. You will find R & S on the chart (Red& turquoise lines). Senko Span A is upward; however; in the very near future, EGX will consolidate. Senko Span B is flying upward. EGX30 reached the entry point where it broke out. 30461 point is a main support point. To conclude EGX30 $ represent best value for money....
EGX30 is trading above green kumo. Chikou span is downward. Red Long wick. Senko Span A is up trending. Senko Span B is plateau. Target is 33314 points. However, hickups are FVG related. You can discover it in the 1H chart. EGX30 1H time frame:target remains 33750 points. You will find R & S on the chart (Red& turquoise lines). Senko Span A is upward;...
comparative analysis on different time frames between EGX30 EGP & USD Gateway to heaven started we might see a wick reaching LEVEL OF 29250 points TARGET 34K points (medium term target)
EGX will rise a littlie then will going to correct.
Remember that after each BOS, retracement occurs. Positive signals confirmed by Ichimoku Kinko Hyo & other indicators on different time frames as well. Next traget is 33K point.
EGX30: Accumulation Phase didn't end yet. $ & Value Stock will lead.
- While technically the market was way too overbought and way too overextend this sell off seems real. - cheap can get cheaper, so avoiding buying a falling knife is wise option. - too much panic in the market, so I liquidated all except few. - monitor stop losses and sell all losers
The shadow of RAS Hikma transaction on the construction sector was superb; however, process industries sector, and USD-base revenue companies lead the sharp fall. 3-4 days to recover based on ghosting the Bars pattern. in the mean time, FLOATING is the QUEEN. FORTY EIGHT is the jack of all spades. words of wisdom: he is no fool who gave up what he cant afford...
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
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.
The Bebining & the ending of the trading day was outstanding. CCAP outbreak is exceptional
1H timeframe Target to continue the outbreak 28,411 - 28,785, and final destination 29,688. If $ parralel rate drops excpect to reach 27,925 Points (1.69%)
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.
still consolidating... Defensive industries are the sole Winners such as Pharmaceuticals, Real State development, and/or food. Losers are USD hedge , High Net Debt absolute vlaue, and/or High YoY debt growth companies. Basically its a defensive bullish market with strong Fixed Asset in Balance Sheet .
30-min chart, the index has formed a falling wedge, and should target the Resistance line (R) at around 28125. After crossing it, the target will be 28850 extending to 29545 Technical indicator RSI is positive. Below Support line (S) should be a stop loss.
- EGX30 came near the 60% Fib level and it was due to a pullback. - It cant stay overbought for too long and a healthy pullback was necessary. - In my opinion, it can stay in a range for a couple of weeks and its a good opportunity to add more shares to winning trades. - In case the market decides to pullback more than the range. stop losses for each trades...
Its Bearish As Long as you are Under That TOP First Bullish signal would be Breaking and Closing above The red Down Trend Line. We had a Rising Wedge for the past weeks formed. Broke under it,, Then retested the Breaking Point which then Formed us our Red Trendline. on The Chart Important Support And Resistance Levels. Take Care of The big CAPs Stocks Which Made...
EGX30 found support on the 50ma with 2 candles = 1 pin bar, same like last it hit that same moving average. 80% probability of a continuation to the upside