Emaar Egypt has a potential to 9.1 and 9.4Daily chart
The stock is trading in a rising channel - the price is heading towards the upper line (Resistance line R).
Next resistance levels will be 8.7, 9.1 then 9.4
The technical indicators RSI and MACD are supporting the positive view.
Consider a stop loss below the line SL. Currently, below 8.0
EMFD
EMFD "Excellent performance from a great company"An Overlooked Gem in the Egyptian Market: Soaring Growth and Promising Prospects
The provided text highlights an Egyptian stock that has experienced extraordinary growth over the past year, surging by over 135% in value. The stock's fair value has also witnessed an increase from 8 Egyptian pounds to 9.5 pounds, driven by its strong financial performance in the first quarter.
The text outlines two potential scenarios for the stock's future trajectory:
Continued Uptrend: The stock could continue its upward momentum, reaching levels of 8 and 9 Egyptian pounds, with the possibility of further appreciation to even higher levels.
Retracement: The stock might experience a price decline. However, the author strongly advises against selling the stock at any price point.
Personal Experience: having held it since its price was 3 Egyptian pounds. They emphasize the stock's underlying strength and their firm belief that it will appreciate significantly in the future, even if its price drops back to 1 Egyptian pound.