Sidi Kerir Egypt is preparing to go uptrendDaily chart, the stock EGX:SKPC has formed 2 patterns: symmetrical triangle and cup.
After crossing resistance line R around 30 - 31, the target will be 36 then 40
The technical indicators RSI and MACD on the weekly time-frame are signalling an uptrend.
Stop loss below 28 should be considered.
SKPC
EGX30 heading for a fallCOMI, MFPC, ABUK, ALCN, AMOC, SKPC, BINV, EGCH, & sugar are the main drivers for the fall.
Traders' sentiment is to trade in strong balance sheets with solid fixed assets as well as avoiding trading in MYX:REVENUE stocks.
EGX30 is heading toward 26,600 points to end this correction or the correction will end as soon as FLOATING the EGP.
Sidi Kerir Petrochemicals (SKPC) should target 37.7Daily chart, the stock SKPC has been trading in an expanding triangle since May 2023, and it is trending upwards - as supported by the positive MACD and RSI indicators.
Targets are 32, 34, then 37.7
For daily trader, the stop loss below 28.5 should be considered.