Arabian Cement has a potential to 24 then 25.61-hour chart,
the stock EGX:ARCC is trading in a channel, between support level at 22.4 and resistance level at 24.0
The technical indicators RSI, Stochastic are signalling a positive direction towards the upper line R.
Closing above 24.0 for 3 hours with high volume, the next target (TP - Take Profit) will be 25.6
(Fibonacci extension to 26.6)
Consider a stop loss below 22.2
ARCC trade ideas
Arabian Cement : Opportunity after breakout - Target 14Daily chart, the stock EGX:ARCC is trading in a descending channel, and a long flag chart pattern may be completed.
After crossing the Resistance line R, the target will be 12.
Closing above 11.3 for 2 days, the target will be 14 extending to 14.5
A new buy entry should be safer above 11.5 with the stop loss below 11.1
For an immediate entry, the Stop loss below SL line at 10.8 should be considered.