E-Finance Breakout: Trendline Breach Signals Fresh Upside Potent
E-Finance (EGX) has just broken out of a descending trendline on the weekly chart, supported by momentum indicators turning bullish. The Ichimoku cloud shows that the price is attempting to re-enter bullish territory. With the MACD turning positive and the Squeeze Momentum shifting green, this breakout may be the start of a medium-term rally.
📌 Trade Plan
📥 Entry Zone: Between 17.50 – 18.25 EGP (current price or on a slight dip)
🎯 Take Profit Targets:
TP1: 19.85 EGP (upper Ichimoku cloud resistance)
TP2: 24.00 EGP (previous support-turned-resistance zone)
🛑 Stop Loss: Below 16.50 EGP (under recent swing low & trendline)
⏱️ Time Horizon: Medium-term (4–8 weeks)
📌 Trade Plan
📥 Entry Zone: Between 17.50 – 18.25 EGP (current price or on a slight dip)
🎯 Take Profit Targets:
TP1: 19.85 EGP (upper Ichimoku cloud resistance)
TP2: 24.00 EGP (previous support-turned-resistance zone)
🛑 Stop Loss: Below 16.50 EGP (under recent swing low & trendline)
⏱️ Time Horizon: Medium-term (4–8 weeks)
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.
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.