Technical Analysis: Trend Watch - Egypt
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EGX30 Index (.EGX30: 7,248.61)
EGX30 broke the resistance level of 7,060 points. The trend is up. Traders can buy the dips. A rising support level is at 6,800 points. Use a stop loss level at 6,750 points. The RS Line is flat. EGX30 is an equal performer vs. MSCI EM. Investors: Hold.
Egypt Financial and Industrial Co. (EFIC: EGP23.97)
EFIC seems to be moving sideways between the support level of EGP20.00 and the resistance level of EGP27.04. The trend is moving sideways. Enter close to the support levels. Exit close to EGP27.04. Stop loss level is at EGP19.10. The RS line is still flat. EFIC is an equal performer vs. EGX30. Investors: Hold.
Samad Misr Fertilizers (SMFR: EGP12.50)
We have adjusted our lines. The price faced the support level at EGP10.28, then broke the resistance level at EGP11.63. The next resistance level is at EGP13.02. The minor trend is up. The price is searching for a peak. Traders can buy the dips. The RS line is flat. SMFR is an equal performer vs. EGX30. Investors: Hold.
Abu Qir Fertilizers (ABUK: EGP222.43)
The price is going through a sideway correction. Traders can take profits close to the resistance levels. A protective stop level is at EGP215. The next support level is at EGP194. ABUK is an equal performer, reflected in a flat RS line. Investors: Hold.
Misr Chemical Industries (MICH: EGP12.54)
The price faced some support at EGP9.70, and is going through a pullback. The trend is gently down. Traders can sell the rallies. A pullback close to EGP12.67 - 14.00 is a selling opportunity. A close above EGP14.00 means a climb to the second resistance level at EGP16.00. The RS line is flat. MICH is an equal performer vs. EGX30. Investors: Hold.
El Sewedy Cables (SWDY: EGP78.30)
The price broke the falling trend, and is searching for a peak. The next resistance level is at EGP82.44. Support level is at EGP76.00. The trend is shifting direction in favour of the bulls. Traders can buy the dips. The RS line is falling. SWDY is an underperformer vs. EGX30. Investors: Reduce/Hold. الموضوع الأصلى من هنا: مجموعة البورصة المصرية http://www.BORSAEGYPT.com/showthread.php?p=1059629840
Alexandria Mineral Oils (AMOC: EGP44.13)
A close above EGP40.00 triggers a gentle re-entry signal and means a potential rally to EGP50.00 - 50.30. The key support level is at EGP41.36. Stop loss level is at EGP39.50. AMOC is an equal performer vs. EGX30. The RS line is flat. Investors: Hold.
Electro Cables (ELEC: EGP1.24)
The price faced some support close to EGP1.10. The minor trend is up. Traders can buy the dips. ELEC is testing the resistance level at EGP1.26. Take profits at the current levels. Enter during the dips close to the rising support level of EGP1.20. The RS line is falling. This makes ELEC an underperformer vs. EGX30. Investors: Reduce/Hold