Daily chart, ESRS stock formed a bullish chart pattern (descending triangle), and the target is 94.9, extending to 110.6 (Fibonacci extension)
Technical indicators RSI and MACD are positive.
EGX:ESRS
The uptrend started from the bottom of last October at a price of 13.02, then hit the 90-degree angle at a price of 17.63. The stock then rebounded from the 45-degree sub-angle and resumed its rise. The 90-degree angle was broken, making it the best buying area. The target of the uptrend cycle was 31.45, which is the 360-degree angle that the stock...
Ezz Fadel Steel has a small last rise before the large drop of the strong support area below, as shown in the shaded area, and this will be a large gathering area for a large annual rise later
The momentum and the technical shows that it will go down to 14.25 egp as I think, and if it crossover it it probably go more down this is for the short term (1h and 4h chart) .This is not a financial advice. It's just my opinion.
Thanks
For daily and Swings traders, Ezz steel is in a downtrend pattern facing many resistances downward, can be a short-selling opportunity for the short-term but once it crossed up 12.40EGP target it can be reversed to an uptrend, but for now it is a downtrend for a while
