Key Observations:
Support & Resistance Zones:
Strong Resistance: 37.41 EGP (Previous high).
Current Resistance: 31.68 - 32.11 EGP (Needs a breakout for bullish continuation).
Support Levels: 31.54 EGP, 28.08 EGP, and 25.03 EGP.
Moving Averages (Blue & Red Lines):
Price is near moving averages, suggesting a retest of support or an early uptrend.
If the price stays above moving averages, it could confirm bullish momentum.
Indicators (MACD, RSI, Volume):
RSI: 54.74 (Neutral-Bullish). Needs to break above 60 to confirm strong bullish trend.
MACD: Slightly bullish crossover forming. Could signal momentum shift upward.
Volume Profile: High volume between 28-32 EGP, indicating accumulation.Trading Strategy Ideas:
📌 Bullish Scenario:
Buy above 32.11 EGP with a target of 47.41 EGP.
Stop loss below 29.50 EGP to minimize risk.
Confirmation: RSI above 60, MACD positive crossover, and increased volume.
Support & Resistance Zones:
Strong Resistance: 37.41 EGP (Previous high).
Current Resistance: 31.68 - 32.11 EGP (Needs a breakout for bullish continuation).
Support Levels: 31.54 EGP, 28.08 EGP, and 25.03 EGP.
Moving Averages (Blue & Red Lines):
Price is near moving averages, suggesting a retest of support or an early uptrend.
If the price stays above moving averages, it could confirm bullish momentum.
Indicators (MACD, RSI, Volume):
RSI: 54.74 (Neutral-Bullish). Needs to break above 60 to confirm strong bullish trend.
MACD: Slightly bullish crossover forming. Could signal momentum shift upward.
Volume Profile: High volume between 28-32 EGP, indicating accumulation.Trading Strategy Ideas:
📌 Bullish Scenario:
Buy above 32.11 EGP with a target of 47.41 EGP.
Stop loss below 29.50 EGP to minimize risk.
Confirmation: RSI above 60, MACD positive crossover, and increased volume.
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.