EGX30 EGP vs. EGX30$ .. bullishcomparative analysis on different time frames between EGX30 EGP & USD
Gateway to heaven started
we might see a wick reaching LEVEL OF 29250 points
TARGET 34K points (medium term target)
EGX30 trade ideas
EGX30 bullishRemember that after each BOS, retracement occurs.
Positive signals confirmed by Ichimoku Kinko Hyo & other indicators on different time frames as well. Next traget is 33K point.
EGX30: Accumulation Phase didn't end yet ....EGX30: Accumulation Phase didn't end yet.
$ & Value Stock will lead.
EGX Sell off- While technically the market was way too overbought and way too overextend this sell off seems real.
- cheap can get cheaper, so avoiding buying a falling knife is wise option.
- too much panic in the market, so I liquidated all except few.
- monitor stop losses and sell all losers
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.
MFPC & ABUK will lead the EGX30Urea & White sugar prices increased in the commodities market; this price increase will flirt with the bullish fertilizers sect of the EGX. ABUK & MFPC will lead EGX30 to the 30K Bar.
SUGAR is TAILGAITING
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.
positive uptrendingThe Bebining & the ending of the trading day was outstanding.
CCAP outbreak is exceptional
EGX30 outlook 13/2/20241H timeframe Target to continue the outbreak 28,411 - 28,785, and final destination 29,688.
If $ parralel rate drops excpect to reach 27,925 Points (1.69%)
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.
consolidating 4//2/24still consolidating... Defensive industries are the sole Winners such as Pharmaceuticals, Real State development, and/or food.
Losers are USD hedge , High Net Debt absolute vlaue, and/or High YoY debt growth companies.
Basically its a defensive bullish market with strong Fixed Asset in Balance Sheet .
EGX30 to target 29545 after crossing Resistance30-min chart, the index has formed a falling wedge, and should target the Resistance line (R) at around 28125. After crossing it, the target will be 28850 extending to 29545
Technical indicator RSI is positive.
Below Support line (S) should be a stop loss.
EGX Weekly Analysis- EGX30 came near the 60% Fib level and it was due to a pullback.
- It cant stay overbought for too long and a healthy pullback was necessary.
- In my opinion, it can stay in a range for a couple of weeks and its a good opportunity to add more shares to winning trades.
- In case the market decides to pullback more than the range. stop losses for each trades should be monitored. and sell losers.
Egx30Its Bearish As Long as you are Under That TOP
First Bullish signal would be Breaking and Closing above The red Down Trend Line.
We had a Rising Wedge for the past weeks formed.
Broke under it,,
Then retested the Breaking Point which then Formed us our Red Trendline.
on The Chart Important Support And Resistance Levels.
Take Care of The big CAPs Stocks Which Made above 100%++++..
Good Luck To you all.
EGX30 is ready to bounceEGX30 found support on the 50ma with 2 candles = 1 pin bar, same like last it hit that same moving average. 80% probability of a continuation to the upside
EGX30 to test 25000, targets 26490 after crossing up1-hour chart,
The Egyptian market index EGX30 is rebounding to the resistance line BLUE, from the support line RED.
Above 25000, the target will be 26490, passing through the shown resistance levels.
Stop loss 24400
EGX30 Rally , Buy the Dip !we can know that it's trending up just by looking at HH and HL, we also know that the down wave is just a correction in an up trend so we can predict the end of the correction by several things, especially price behavior, and its behaving as a fractal to the previous corrective wave, in this case, we can be sure that a continuation to the upside is nearby, this market behavior is typical we see it all the time in trending markets, you don't have to be an expert to know that EGX30 is gonna go up and the Egyptian stock market going to start the rally in a matter of days,
Enjoy ,,
EGX30 to target 32600 (monthly time frame)On the monthly chart, the INDEX EGX30 has crossed up the channel pattern upwards, then the target is 32600
The ascending upper blue line is the profit protection level.
The Final Stretch for EGX30Since my last update, the EGX30 has precisely followed the narrative and wave counts.
Right now we are headed to finalize wave 5 of the impulse. In the light of the escalating geopolitical tensions and the 2024 elections taking place in December 2023, there is a possibility for wave 5 to be much shorter than anticipated.
Personally, I hope we break the 21000 EGP level first where I am taking profit on all my positions, but I am considering a soft stop loss around 17K and a hard stop loss at 15K.
expected correction after big move EGX30 Good reduction of EGX30 indicator and expected correction areas of the chart
