TANM (Tanmia for Real Estate Investment) – Cup & Handle Formatio
📈 TANM (Tanmia for Real Estate Investment) – Cup & Handle Formation! 🚀**
🔎 **Technical Analysis (1D Chart):**
TANM appears to be forming a **Cup & Handle** pattern, which is a classic bullish continuation setup. This pattern suggests the potential for an upward breakout if the price successfully clears resistance.
- **Cup & Handle Formation:** The stock has completed the "cup" phase with a rounded bottom, and now it's forming a "handle," typically a consolidation before a breakout.
- **Moving Averages Support:** The price is fluctuating around key moving averages, which may provide dynamic support.
- **RSI Near Neutral Zone:** The RSI is around 49-54, indicating no extreme overbought or oversold conditions, leaving room for a move in either direction.
- **MACD Neutral:** The MACD is hovering near the zero line, and a bullish crossover could confirm momentum shift.
- **Volume Considerations:** A volume surge upon breakout would strengthen the bullish case.
🔑 **Key Levels to Watch:**
- **Resistance:** **3.93 EGP** (Cup & Handle breakout confirmation level)
- **Current Support:** **3.31 - 3.30 EGP** (Crucial zone to hold)
- **Major Support:** **2.50 EGP** (Break below would invalidate the pattern)
📊 **Market Sentiment & Potential Scenarios:**
- **Bullish Breakout:** If price closes above **3.93 EGP** with strong volume, the next target could be **4.50+ EGP** based on the cup depth projection.
- **Bearish Breakdown:** A failure to hold **3.30 EGP** could lead to a retest of **2.50 EGP**, invalidating the bullish setup.
- **Neutral Consolidation:** If volume remains low, the price may continue forming the handle before a breakout attempt.
⚠️ **Risk Management & Disclaimer:**
This is **NOT financial advice**. Always conduct your own research, set stop losses, and manage risk appropriately. Patterns indicate probabilities, not certainties.
🔥 **What’s Next?**
Traders should watch for a breakout with volume confirmation. If the cup & handle pattern plays out, the stock may see a strong bullish move in the coming weeks.
📢 **What do you think? Will TANM break out? Share your thoughts below!** 👇
#TANM #EGX #CupAndHandle #Trading #StockMarket #Investing
🔎 **Technical Analysis (1D Chart):**
TANM appears to be forming a **Cup & Handle** pattern, which is a classic bullish continuation setup. This pattern suggests the potential for an upward breakout if the price successfully clears resistance.
- **Cup & Handle Formation:** The stock has completed the "cup" phase with a rounded bottom, and now it's forming a "handle," typically a consolidation before a breakout.
- **Moving Averages Support:** The price is fluctuating around key moving averages, which may provide dynamic support.
- **RSI Near Neutral Zone:** The RSI is around 49-54, indicating no extreme overbought or oversold conditions, leaving room for a move in either direction.
- **MACD Neutral:** The MACD is hovering near the zero line, and a bullish crossover could confirm momentum shift.
- **Volume Considerations:** A volume surge upon breakout would strengthen the bullish case.
🔑 **Key Levels to Watch:**
- **Resistance:** **3.93 EGP** (Cup & Handle breakout confirmation level)
- **Current Support:** **3.31 - 3.30 EGP** (Crucial zone to hold)
- **Major Support:** **2.50 EGP** (Break below would invalidate the pattern)
📊 **Market Sentiment & Potential Scenarios:**
- **Bullish Breakout:** If price closes above **3.93 EGP** with strong volume, the next target could be **4.50+ EGP** based on the cup depth projection.
- **Bearish Breakdown:** A failure to hold **3.30 EGP** could lead to a retest of **2.50 EGP**, invalidating the bullish setup.
- **Neutral Consolidation:** If volume remains low, the price may continue forming the handle before a breakout attempt.
⚠️ **Risk Management & Disclaimer:**
This is **NOT financial advice**. Always conduct your own research, set stop losses, and manage risk appropriately. Patterns indicate probabilities, not certainties.
🔥 **What’s Next?**
Traders should watch for a breakout with volume confirmation. If the cup & handle pattern plays out, the stock may see a strong bullish move in the coming weeks.
📢 **What do you think? Will TANM break out? Share your thoughts below!** 👇
#TANM #EGX #CupAndHandle #Trading #StockMarket #Investing
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.