ZMID Zahraa Maadi Investment & Development
The stock has an imaginary support level at 5 Egyptian pounds and is currently trading in a resistance range between 6.30 and 6.5 Egyptian pounds, forming a flag pattern. If it breaks above the 6.70 Egyptian pound level during any weekly session, it could reach 7 Egyptian pounds, followed by 7.2 Egyptian pounds, 7.5 Egyptian pounds, and eventually 8 Egyptian pounds. Coincidentally, the company will be implementing decisions made at the company's general meeting after approving the distribution of dividends of 0.15 Egyptian pounds divided into two installments, as well as the distribution of free shares in August. This will likely cause the stock to fall again to half its price, reaching levels of 4 Egyptian pounds. This will create a new bottom for the stock, but remember that you will not have lost money; instead, you will have received free shares.
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