Jufo Road MapThis chart is based on the Gann Grid, a tool used to identify key levels in the market where price reversals or consolidations could occur based on historical data and geometric angles. Here, the chart represents Juhayna Food Industries on the daily timeframe. The horizontal lines are support and resistance levels, starting from 0° and increasing through 45°, 90°, and so on, up to 720° at the top. Each degree level represents a potential turning point in the market.
Key Levels:
24.92 is a resistance level.
22.49 acts as a support level.
From the chart:
The price is hovering near 25 EGP, approaching resistance levels, so it might face some difficulty moving higher unless there’s strong buying volume.
The RSI (Relative Strength Index) at the bottom indicates the stock's momentum. It's at 57.46, which is slightly bullish but not overbought. This suggests there could still be room for upward movement, but caution is needed near the resistance levels.
Opportunity:
A potential buy could be considered if the price breaks the 25.15 EGP level with momentum, aiming for the next resistance at 27.48 EGP.
Stop Loss can be placed just below 22.49 EGP to manage risk if the market turns against the trade.
Best Regards!
