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EGX 70 EWI IndexEGX 70 EWI IndexEGX 70 EWI Index

EGX 70 EWI Index

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EGX70EWI trade ideas

comparative analysis of the EGX30 & EGX70EWI 11-6-24Both indicators have exhibited typical performance patterns. After experiencing a series of 9 and 11 consecutive downtrending days, respectively, both indicators concluded their declines with the formation of a doji candlestick, signaling potential reversal or indecision. The short-term downtrend spanning 9 days has effectively ended for both indices. However, crossing the established trendline poses a significant challenge. Currently, both indices are situated at the lower boundary of their linear regression channels. Additionally, the Chikou Span for both indices lacks clear momentum, suggesting that price movements are likely to encounter substantial resistance in the near term. Given this analysis, it is plausible that the indices may enter a phase of consolidation or treadless behavior in the short term. For tomorrow and the day after, the outlook remains cautious. Monitoring for confirmation through additional technical indicators or bullish reversal patterns will be essential to gauge any potential upward movement.
EGX:EGX70EWI
by ICHIMOKUontheNILE
EGX70EGX70 witnesses an healthy correction short-term move, and that after creating a new peak that lies at 3764 point. And on last Thursday, the EGX70 closed above the level 3450 point which constitutes the 38.2% of Fibonacci retracement level, then the breaking of that level to downside, will lead to targeting the level 3350 point, which constitutes the 50% of Fibonacci retracement level. Then this correction will consider as a buying chance with the first rebound from either of these two mentioned levels. The stop loss will trigger under level 3250 point.
EGX:EGX70EWILong
by Gehad_Abouelela
EGX 70 EGX will get soon some new IPO after the pressure of the interest rate hike of the CBE to control inflation. The monthly core inflation, computed by the CBE, recorded 2.4% in April 2022, down from 3.1% in March 2022, and 0.7% in April 2021. Accordingly, the annual core inflation increased in April 2022, compared to 10.1% in March 2022. The current interest rate: Actual: 11.25 Previous: 9.25 lowest: 8.25 A devaluation in the Egyptian Pound and the Fed hikes make a large immigration of investment capital during the past three months. but the ability of market recovery still exist but it will take time.
EGX:EGX70EWI
by Abuhiba82