**Trend Analysis**
1. **Ascending Triangle Pattern:**
- The chart shows an **ascending triangle** pattern, characterized by a horizontal resistance line and an upward-sloping trendline.
- This is typically a **bullish continuation pattern**, meaning a breakout above resistance could lead to further upward movement.
2. **Support & Resistance Levels:**
- **Resistance:** Around **56.13 EGP** (historical peak).
- **Support:** The **ascending trendline** acts as dynamic support.
- **Major Supports:** **42.57, 41.07, 40.81 EGP** (previous lows and moving averages).
3. **Moving Averages:**
- The price is trading **above key moving averages (blue and red lines)**, suggesting the trend is still bullish.
- These MAs are also acting as dynamic support.
### **Indicators & Momentum**
1. **Volume & Breakout Potential:**
- The volume bars indicate **higher interest** near the breakout level.
- A **strong breakout with high volume** would confirm the pattern.
2. **RSI (Relative Strength Index):**
- Currently around **55-61**, indicating the stock is in a neutral to slightly bullish zone.
- No overbought or oversold conditions.
3. **MACD (Moving Average Convergence Divergence):**
- The MACD line is crossing above the signal line, which is a **bullish signal**.
- A strong crossover with an increase in momentum could confirm an uptrend.
### **Potential Future Movements**
1. **Bullish Scenario:**
- If the price **breaks above 56.13 EGP with strong volume**, the next target could be around **66.66 EGP**.
- This aligns with the measured move of the ascending triangle breakout.
2. **Bearish Scenario:**
- If the price fails to break resistance and falls below the trendline (**around 42-43 EGP**), it may **decline towards 39.88-36.24 EGP**.
### **Conclusion & Trade Idea**
- **Bullish bias** as long as price remains above the trendline.
- Watch for a breakout above **56.13 EGP** for confirmation.
- If price **fails and drops below 36 EGP**, expect a downside move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.