#### **1️⃣ Chart Pattern & Breakout Potential**
- The stock is forming a **descending triangle**, which is often bearish, but **a breakout above resistance** can signal strong upside potential.
- The price is consolidating near **24.23 EGP**, close to a breakout point.
- If the price **breaks above 25.08 EGP**, it could trigger a strong rally.
#### **2️⃣ Key Levels to Watch**
- **Immediate Resistance:**
- **24.77 EGP** → Break above this = first bullish confirmation
- **25.08 EGP** → Major breakout level 🚀
- **Support Levels:**
- **24.00 EGP** (bulls need to defend this)
- **18.66 EGP** (worst-case scenario)
#### **3️⃣ Indicators Supporting a Bullish View**
✅ **RSI (45.91)** → Near 50, if it crosses **above 50-55**, bullish momentum increases.
✅ **MACD** → Although slightly bearish, a **bullish crossover** could confirm the breakout.
✅ **Volume (5.19M)** → A **spike in volume** will validate an upward move.
#### **4️⃣ Bullish Targets 🚀**
- **📍 First Target:** **27.00 - 28.00 EGP**
- **📍 Second Target:** **30.00 - 32.00 EGP**
- **📍 Ultimate Target:** **36.00 EGP** (if strong momentum follows)
#### **5️⃣ Ideal Bullish Trade Setup 🎯**
- **Entry:** On breakout above **25.08 EGP** (with strong volume).
- **Stop-Loss:** Below **24.00 EGP** (to protect downside risk).
- **Take Profit:** Gradually at **27.00 - 30.00 EGP**.
- **Confirmation:** Watch for RSI moving above 50 and MACD crossing bullish.
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### **🔹 Final Thoughts**
- **If ORWE breaks above 25.08 EGP, the next stop is 27-30 EGP.**
- **Watch volume closely! A big move needs strong buying pressure.**
- **Bulls should hold as long as 24.00 EGP support holds.**
🚀 **If volume confirms, this could be a strong breakout trade!**
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.