Is Superman coming to rescue the EGX30 from its skid row woes?"EGX30: The Epic Adventures of Market Mayhem and Superman's Potential Rescue!"
Summary:
In a whirlwind of chaos, the EGX30 market faced crashes, outages, and blackouts while institutions sold stocks, leading to a 10% loss in just four days. Will Superman save the day as the market teeters on the brink of collapse at 24,400 points? Stay tuned for this epic financial rollercoaster!
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In a series of unfortunate events that even Lemony Snicket couldn't have predicted, the EGX30 market has been on a rollercoaster ride to financial chaos! Thursday's market crash, fueled by institutional sales, was just the beginning of a string of mishaps that would make Murphy proud.
Just when traders thought they could catch their breath after the Thursday storm, Sunday brought an unexpected plot twist - an internet outage that sent the market spinning like a confused office chair. As if that wasn't enough, yesterday's electricity blackout plunged the market into darkness, leaving traders feeling like they were in a financial skid row.
But wait, there's more! Today, in a plot twist that even M. Night Shyamalan would envy, the institutions rallied yet again to sell stocks, triggering another 5% market collapse. In just four trading days, the index has lost over 10% - a feat that would make even the most hardened traders reach for their stress balls.
The million-dollar question on everyone's minds now is: Will this saga continue until we hit the elusive 24,400 points, or will Superman swoop in to save the day? Will he bring with him a cape made of bullish trends and a utility belt full of market-saving strategies? Only time will tell in this epic tale of financial turmoil and potential superhero interventions.
Stay tuned for the next thrilling installment of "EGX30: Market Madness and the Quest for Superman!"
EGX30 trade ideas
EGX30 has a sour and bitter quality, akin to coleslaw
EGX30 buyers are absent and the trend has been broken, as evidenced by the Senkou Span B. The next target is 27,700.
The 52-period EMA (28,622) and the middle line of the Bollinger Bands (28,583) intersect today's bar. Meanwhile, the Chikou Span (28,435) is experiencing a rollercoaster ride. The Tenkan Sen (28,919) is applying pressure, pushing EGX30 down, while the Kijun Sen (29,833) observes the situation.
The next stop will involve exiting the linear regression lower line at 27,763, with a possible halt at the lower Bollinger Band (27,318), also known as the truckers' rest area. The final stop on the journey, marked by the end of Elliott Wave (c), is projected at 25,013.
Given that put options are not available in the Egyptian stock market, here are some alternative strategies for EGX30 traders in a bearish market situation:
1. Reduce Exposure: Consider reducing your exposure to the market by selling positions to protect your capital from further losses.
2. Hold Cash: Keeping a portion of your portfolio in cash can provide flexibility and readiness to capitalize on future opportunities once the market stabilizes.
3. Rebalance Your Portfolio: Assess your portfolio and consider reallocating assets to more defensive sectors or less volatile investments.
4. Look for Defensive Stocks: Consider investing in companies that tend to perform better during economic downturns, such as utilities, consumer staples, and healthcare.
5. Wait for Market Stability: Avoid making impulsive trades and wait for the market to show signs of stabilization before making significant moves.
6. Focus on Fundamental Analysis: During bearish markets, focusing on fundamental analysis can help you identify undervalued stocks with strong long-term prospects.
7. Use Technical Analysis: Utilize technical analysis to identify key support levels and potential reversal points to make informed trading decisions.
8. Stay Informed: Monitor economic and political news that could impact the market, as well as any company-specific news for your holdings.
9. Set Stop-Loss Orders: Set stop-loss orders to limit potential losses and protect your positions from significant downturns.
10. Consider Long-Term Investing: If you have a long-term investment horizon, consider holding quality stocks and weathering the market downturn.
Traders should carefully assess their own risk tolerance and trading strategy while considering the specific market conditions.
Disclaimer:
The content provided is for Educational purposes only. It should not be interpreted as legal, tax, investment, financial, or any other form of advice. Investing in stocks carries inherent risks and may lead to potential losses, including the loss of principal. It's important for investors to recognize that past performance does not guarantee future returns, and market fluctuations can impact investment value. Stocks discussed here are not synonymous with, nor should they be seen as a replacement for time deposits or similar saving instruments. Investing in securities of smaller companies may involve higher risks compared to larger, more established firms, possibly resulting in substantial capital losses. Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall I be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView
SWEETNESS OF THE SOUL BEFORE THE DEEP DIVE TO wave cTomorrow's session titled "Sweetness of the Soul Before the Deep Dive to End the Correction Wave (c)," we've set our target projections between 28,900 and 30,200.
Based on the Ichimoku Kinko Hyo analysis, current trends for the EGX30 do not show positive signals. The index is submerged deep within the Kumo, with the Kijun Sen exerting downward pressure, making it difficult to exit the cloud. This is further supported by the downward trajectory of the Chikou Span.
Additionally, the EGX30's failure to sustain its upward momentum coincides with the conclusion of Elliott Wave (b) and the commencement of Wave (c).
For a more comprehensive technical analysis that goes beyond the basics to include Bollinger Bands, Elliott Waves, and more, please view the detailed video provided.
#traders4traders
***This channel is intended for educational purposes only and should not be construed as an investment proposal.
Disclaimer:
The content provided is for Educational purposes only. It should not be interpreted as legal, tax, investment, financial, or any other form of advice. Investing in stocks carries inherent risks and may lead to potential losses, including the loss of principal. It's important for investors to recognize that past performance does not guarantee future returns, and market fluctuations can impact investment value. Stocks discussed here are not synonymous with, nor should they be seen as a replacement for time deposits or similar saving instruments. Investing in securities of smaller companies may involve higher risks compared to larger, more established firms, possibly resulting in substantial capital losses. Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall I be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView
EGX30EGX30 is trading in the KUMO & Inflated. volume is soaring & Value is inflated ..
confirmation for the recovery is as follows:
1- One Solid Green Bar (Marubuzo) above 28,400 level
2- Exiting the KUMO
3- Tenken sen is below the Marubuzo
ANALYSIS in this video is based on Ichimoku & Elliot Waves
Disclaimer:
The content provided is for informational purposes only. It should not be interpreted as legal, tax, investment, financial, or any other form of advice. Investing in stocks carries inherent risks and may lead to potential losses, including the loss of principal. It's important for investors to recognize that past performance does not guarantee future returns, and market fluctuations can impact investment value. Stocks discussed here are not synonymous with, nor should they be seen as a replacement for time deposits or similar saving instruments. Investing in securities of smaller companies may involve higher risks compared to larger, more established firms, possibly resulting in substantial capital losses.
Wave (a) might reach Senko Span BThe correction wave A for the EGX30 index appears to be ongoing as it has broken Senko Span A, with a potential target of reaching Senko Span B at 27280 bars. It is evident, even to those less familiar with Elliott Wave theory, that the current wave cycle has concluded, primarily due to the break in the existing trend. Some observers may be unwilling to accept this reality and continue to believe in the continuity of the current trend, despite evidence suggesting otherwise.
Finally, the probability of a breakout is dependent on New Money.
Wave 2 didn’t end yetBased on today's performance, SenkoSpan B serves as a key support level for the EGX30, aligning with the 23.8% Fibonacci retracement. Wave 3 begins when reaching 27,000 Bar, expect couple of bumps.
It's disheartening, but hopeful trading can sometimes be a delusion. The DotCom bubble's commemorative date is March 10, coinciding with the devaluation bubble. The EGX30 in USD exposed the EGX30 in EGP's burn rate, influenced by COMI & TMGH. The prices of USD-hedged stocks reflect the 24,000 bar prices. This situation represents a potentially bursting bubble. Regrettably, incidents of friendly fire can occur due to miscommunication, misidentification, or errors during intense and chaotic scenarios.
Correction didn’t endBearish sentiment is flying around.
There is no logic behind today’s market crash other than Margin Call from brokerage firms.
Hopefully tomorrow will be the last correction day .
Correction wave(A) might end, Senko Span (A) will slightly decline.
This is confirmed by Chikou span.
For the next 9 consecutive period, an upward trend is more likely to occur.
EGX 30 is still up trending; chikou span is higher than the previous 26 day bar.
27750 mark can be reached, however, the 28500 is more likely to be reached in the first 1H.
Tomorrow’s closing price is most likely to be equal to =
today’s closing price
Less
(Thursday closing price - Sunday’s closing price)
Can you do the math?
Please challenge my idea, and correct me if I am wrong.
EGX30 1H time frame:target remains 33750 points.EGX30 1H time frame:target remains 33750 points.
You will find R & S on the chart (Red& turquoise lines).
Senko Span A is upward; however; in the very near future, EGX will consolidate.
Senko Span B is flying upward. EGX30 reached the entry point where it broke out.
30461 point is a main support point.
To conclude EGX30 $ represent best value for money. This is witnessed by foreigners net sales. However trading value in EGP 5.5b EGP is equal 110M$. This is poor performance ( equal to 3.4b EGP before the devaluation)
New cash injection will drive the EGX30.
EGX30 performance for locals is similar to Las Vegas Circus Circus but for foreigners is Walmart, low cost supermarket.
New cash will be injected. All stocks are cheap in EGP,and Best Buy in USD.
in sha’a Allah tomorrow, Market will rebound.
Target is 33314 pointsEGX30 is trading above green kumo. Chikou span is downward.
Red Long wick. Senko Span A is up trending. Senko Span B is plateau.
Target is 33314 points. However, hickups are FVG related. You can discover it in the 1H chart.
EGX30 1H time frame:target remains 33750 points.
You will find R & S on the chart (Red& turquoise lines).
Senko Span A is upward; however; in the very near future, EGX will consolidate.
Senko Span B is flying upward. EGX30 reached the entry point where it broke out.
30461 point is a main support point.
To conclude EGX30 $ represent best value for money. This is witnessed by foreigners net sales. However trading value in EGP 5.5b EGP is equal 110M$. This is poor performance ( equal to 3.4b EGP before the devaluation)
New cash injection will drive the EGX30.
EGX30 performance for locals is similar to Las Vegas Circus Circus but for foreigners is Walmart, low cost supermarket.
New cash will be injected. All stocks are cheap in EGP,and Best Buy in USD.
in sha’a Allah tomorrow, Market will rebound.
EGX: Bearish Market SentimentsThe shadow of RAS Hikma transaction on the construction sector was superb; however, process industries sector, and USD-base revenue companies lead the sharp fall.
3-4 days to recover based on ghosting the Bars pattern.
in the mean time, FLOATING is the QUEEN.
FORTY EIGHT is the jack of all spades.
words of wisdom: he is no fool who gave up what he cant afford to keep to gain what he can never imagine to lose.
Special Message from EGX 30 to COMI & MFPC :"Laissez-moi danser"Special Message from EGX 30 to COMI & MFPC:"Laissez-moi danser , chanter ... laissez moi "
Bullish TK-Cross on daily Timeframe
looking forward to reach 29,300 .. Turning point to start dancing Monday & Tuesday.
1.16% point will make Wednesday a brighter day.
Thank you Dalida, je vais dancer Monday.
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.