Egx
A Painful Q2 for EGX?We had quite an impulsive run on EGX30 since summer 2022 with more than 105% gain however, nothing lasts forever :(
We're due for a correction!!
In the light of my elliot wave count, we should anticipate wave 4 to correct anywhere between 11 - 30%. I personally expect a 24% correction to meet the golden ratio (0.618 feb) for the retracement, with an invalidation below 12700.
Generally, wave 4 is where everyone gets frustrated and we can easily see this happening with the current overall sentiment in Egypt hitting seriously low levels while inflation skyrockets and fears of further devaluation of the EGP builds up.
This won't last long however. If my forecasts were correct, we should be over by May or June, and those who kept their patience and built positions during the correction will profit without a doubt.
Let's see where we will go :)
MY trade idea for ISMA stockStock ISMA is showing a strong reversal pattern and can be traded as shown.
my idea is to enter at the break of the pattern "which it did on 22th of April" and my stop is below 5.5.
The initial target is at 7.2 (around 22% price move) and then exit and wait for the next pullback.
ABUK (EGX) - Moving in Channel with BullishHumbled, we would like to thanks for your support who has already liked, commented and followed us. Your support, strengthens us, to help in analyzing the market.
If you have any questions, do not be hesitant to send us message (inbox). Again, We have also provide signal recommendation with detail instruction.
ABUK (EGX) - Moving in Channel with Bullish
EAST (EGX) - Continue BullishHumbled, we would like to thanks for your support who has already liked, commented and followed us. Your support, strengthens us, to help in analyzing the market.
If you have any questions, do not be hesitant to send us message (inbox). Again, We have also provide signal recommendation with detail instruction.
EAST (EGX) - Continue Bullish
FWRY (EGX) - Still Bullish TrendHumbled, we would like to thanks for your support who has already liked, commented and followed us. Your support, strengthens us, to help in analyzing the market.
If you have any questions, do not be hesitant to send us message (inbox). Again, We have also provide signal recommendation with detail instruction.
FWRY (EGX) - Still Bullish Trend
QNBA (EGX) - Be Carefull for BearishHumbled, we would like to thanks for your support who has already liked, commented and followed us. Your support, strengthens us, to help in analyzing the market.
If you have any questions, do not be hesitant to send us message (inbox). Again, We have also provide signal recommendation with detail instruction.
QNBA (EGX) - Be Carefull for Bearish
COMI (EGX) - Still in sideway Humbled, we would like to thanks for your support who has already liked, commented and followed us. Your support, strengthens us, to help in analyzing the market.
If you have any questions, do not be hesitant to send us message (inbox). Again, We have also provide signal recommendation with detail instruction.
COMI (EGX) - Still in sideway