#MEPA#MEPA time frame 1 hour
created a bearish Gartley pattern
sell point at 1.34
stop loss / rebuy 1.38
first target at 1.297
second target 1.26
NOTE : this data according to time frame 1 hour
Its 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
MEPA trade ideas
MEPA has a positive indication to test 1.53 Daily chart,the stock is showing a tendency to test the ascending resistance line R1 (touching around 1.53). Above R1, the next target will be R2 (around 1.70 - 1.72)
MACD technical indicator is supporting this uptrend.
Consider a rising profit protection level, and a near stop loss for this stock.
MEPA.EGX undergoes a big corrective journey The stock chart shows that during the 13 months from April 2022 until May 2023, a large movement during which it completed the five Elliott motive waves, and since this date it began to form corrective waves until the golden ratios of Fibonacci, and therefore it is now heading to the shown lower demand area, which is between 0.41 and perhaps a little below , the current trend is a bearish correction to the demand areas or the strongest support areas .
MepaLooking at the Important Trendlines.
Possible resistance and support Levels on The Chart.
Near Term, Breaking and Stabilizing above .327 is good to go to next levels.
Near Support : .288
long term Investment.
Previous bottom Considered Support waiting for a Double bottom if retouched would be great buy and stop Under .18 for
MEPA EGX egypt - shady alsadanyMEPA EGX egypt - shady alsadany
About Medical Packaging Co SAE
Medical Packaging Company SAE is an Egypt-based public shareholding company engaged in medical and pharmaceutical packaging products manufacturing. The Company is focused on the operations and establishment of a factory for the production of glass containers for the purpose of medical, pharmacy, laboratories, cosmetics and perfumes, among others.