### **Key Observations:**
1. **Breakout from Resistance**
- The stock has recently **broken above a key resistance level** around **2.88 - 3.08 EGP**, indicating bullish momentum.
- A successful retest of this zone could confirm it as a **new support level**.
2. **Volume Profile Analysis**
- The **volume profile** on the right shows a strong **buying interest** around **2.4 - 2.8 EGP**, indicating strong demand.
- **Low volume areas above 3.08 EGP** suggest that price could move quickly towards the next resistance.
3. **Target Levels**
- **First Target:** **3.81 EGP** (previous high and key resistance).
- **Second Target:** **4.29 EGP** (next major resistance level).
4. **Stop-Loss & Risk Management**
- **Stop-Loss:** Below **2.42 EGP** (previous strong support level).
- **Risk-to-Reward Ratio:** Appears to be favorable (high reward potential vs. controlled risk).
5. **Trendline & Market Structure**
- A **rising trendline** supports the price action.
- The market structure remains **bullish** with **higher highs and higher lows**.
### **Trade Plan (Bullish Setup)**
- **Entry Zone:** **3.00 - 3.08 EGP** (on a retest of support).
- **Stop-Loss:** Below **2.42 EGP** (invalidation level).
- **Take Profit Targets:**
- **First Target:** **3.81 EGP**
- **Second Target:** **4.29 EGP**
If buying volume continues, the stock has a **strong chance of rallying** toward the target levels.
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.