# **CONTACT Financial Holding | Bullish Reversal from Golden Fibonacci Zone 🚀**
**Ticker**: EGX:CNFN
**Timeframe**: 1D
**Pattern**: Fibonacci Golden Ratio Reversal + Descending Trendline Breakout
### **📌 Key Analysis:**
- The price has approached the **Golden Fibonacci retracement level (0.618 - 0.705)**, a key area where buyers tend to step in.
- There is a strong **historical support zone** aligning with this golden pocket, increasing the probability of a rebound.
- The **descending trendline** is acting as resistance. A breakout above this level would confirm the bullish reversal.
- **RSI** is at a relatively low level, indicating that the stock may be oversold and primed for a reversal.
### **🎯 Targets:**
1. **4.18 EGP (0.618 Fib Retest)**
2. **4.45 EGP (0.5 Fib Level)**
3. **4.94 EGP (0.382 Fib Resistance)**
4. **6.43 EGP (Major Long-term Target from Previous Highs)**
### **🛑 Stop Loss:**
- A break below **3.25 EGP (0.79 Fib Level)** would invalidate the bullish setup.
### **🔥 Bullish Confirmation:**
- A breakout above **4.18 EGP** with strong volume.
- Positive momentum and RSI turning upwards.
If confirmed, this setup presents a **great risk-reward ratio** for a potential upside move. 🚀📈
What do you think? Let me know your thoughts in the comments! NOT FINANCIAL ADVICE⬇️
**Ticker**: EGX:CNFN
**Timeframe**: 1D
**Pattern**: Fibonacci Golden Ratio Reversal + Descending Trendline Breakout
### **📌 Key Analysis:**
- The price has approached the **Golden Fibonacci retracement level (0.618 - 0.705)**, a key area where buyers tend to step in.
- There is a strong **historical support zone** aligning with this golden pocket, increasing the probability of a rebound.
- The **descending trendline** is acting as resistance. A breakout above this level would confirm the bullish reversal.
- **RSI** is at a relatively low level, indicating that the stock may be oversold and primed for a reversal.
### **🎯 Targets:**
1. **4.18 EGP (0.618 Fib Retest)**
2. **4.45 EGP (0.5 Fib Level)**
3. **4.94 EGP (0.382 Fib Resistance)**
4. **6.43 EGP (Major Long-term Target from Previous Highs)**
### **🛑 Stop Loss:**
- A break below **3.25 EGP (0.79 Fib Level)** would invalidate the bullish setup.
### **🔥 Bullish Confirmation:**
- A breakout above **4.18 EGP** with strong volume.
- Positive momentum and RSI turning upwards.
If confirmed, this setup presents a **great risk-reward ratio** for a potential upside move. 🚀📈
What do you think? Let me know your thoughts in the comments! NOT FINANCIAL ADVICE⬇️
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.