#ETEL- Egyptian stock#ETEL timeframe 1 hour.
Created a Bullish Gartley pattern
Entry level at 35.13 - price closed at 35.05
Stop loss 34.70 (-1.20% estimated loss)
First target at 36.00 (2.65% estimated profit)
Second target 36.90 (5.00% estimated profit)
NOTE: this data is according to time frame 1 hour, also there is a positive divergence on MACD.
It's not an advice for investing, only my vision according to the data on chart.
Please consult your account manager before investing.
Thanks and good luck.
ETEL trade ideas
TELECOM EGYPTThe stock of Egyptian Telecommunications rose, then fell, correcting wave A from a peak of 40.90 EGP to 28.75 EGP. It then rose with a corrective wave towards 37 EGP, which has ended, confirmed by a break below 31.40. We expect the channel to break, followed by a strong decline in a five-wave C. We will wait to buy at the areas shown in the chart, with the strongest area being the green zone.Stop Loss above 37.11EGP