EGX 30 test strong resistanceEGX30 currently test @ 11500 to 11660
This strong resistance need very good news to break it
on the other hand, we can see correction in EGX30 if the index rebound from this resistance
Dr. Tarek Gadallah
EGX30 trade ideas
EGX 30 study and how i think it will continue these next days EGX 30 showing strong downtrend momentum based on simple follow back on it's short period history
-look at the pervious uptrend
-look at how similar to the pervious uptrend and how it ended
-know how to play it.
this is my prediction and not a financial advice
Egx30 update, downtrending todayA true breakout today by indicated candlestick with a bigger volume ,
an indicated downtrending channel has been created and lower channel line represents the line of downtrend target ,
if reversal to occur , it must break upward by a bigger volume higher than 11240 level
Egx30 is expected to rebound ..22/8/2021
Egx30 is performing 4 consecutive down sessions , an expected retest of 10882-10775.44 level as a pullback , however it may continue to 12026 as a wave end otherwise it retraces till 10519.6 where it may rebound
My view for EGX30 next moveStrong resistance
1- if we see weekly close above 10940 bulls taking the trend higher 1st target 11240
2- if we see weekly close down 10830 bears taking the trend down again 1st target 10370
Good luck every one
EGX30 | 10840: break or rebound !The main Egyptian stock index “egx30” is currently testing the resistance level at 10,840 points.
Breaching the previous resistance levels and the upper boundary of the descending channel is necessary for the continuation of the rise to 12000 points.
There is another chance in case the previous breach fails, which is to go back again to 10,000 points and form a possible inverse head and shoulders pattern.
On the other hand, the rebound from the upper boundary of the descending channel supports the decline to 9000 points, which is considered to be touching the major uptrend line since 2011. And more if it is broken! See the following chart.
EGX30 " MonthlyEGX30 " Monthly
with three levels of moving up support lines and monthly stop 9769 awaiting confirmation to cross the down trend since 2018 ,crossing 12000 range shall be a more confirmation for future uptrend
Way to go!! Hello dears
Today I would like to share my idea with you about EGX30 .. weekly timeframe
What I am searching for right now are three:
1. Strong candlestick with a high volume that will assure me that bulls come again
2. Breaking the descending price channel
3. Breaking the supply area
By achieving the past three conditions we will see 13000 and 16000 as a next targets
Let's see what will happen in the next few weeks .. thanks for reading ❤️
EGX 30 toward 9700, then bounce upEGX 30 still under pressure sold, this paves the road toward 9700, if this level resist, it may bounce up again, else may see 9500
waiting to reach 9700 level is highly recommended, accordingly we could put our entering plan
-1EGX30@15.2K OPEN SHORT (15.2K-11.0K) PL: +4.2K(+28%)Short position is still open from March 2019.
EGX symbols are pretty interesting to study, the lack of HFT firms is probably the main reason for the perfect alignment with the symbol's fundamental health.
The mega industrial boom generated massive investors interest during the past 4-5 years, followed by the COVID crises, EGX suffered major damage however, our short position was already open at Mar 2019 on an acute divergence of all differential oscillators, targets were set to 11K-9K, however, recent events made things a little bit more interesting.
Price should hover over the 10K mark for a while, we expect another leg down (9K-7K) before any move upwards, hopefully we don't see a new minimum.
It makes me always wonder weather fundamentals draw the charts, or do charts actually predict fundamentals..
Happy Trading!
-1EGX30@15.2K OPEN SHORT (15.20K-11.07K) PL: +4.13K(+26.9%)Short position is still open from May 2020@ 15.20K, no close yet however approaching a critical decision point for EGX30
Time Precedes VolumesThis idea is based on the article Time Cycle Oscillators, published in IFTA Journal 2018.
As volumes precede prices, the “period of time cycles” precedes volumes.
Hence, the simple harmonic oscillator SHO (blue) is leading to the volume zone oscillator VZO. The latter is created by Walid Khalil.
Negative and positive divergences between the SHO and VZO help in predicting the direction of the VZO. Also, the SHO confirms and shows the significance of the signals which are generated by the VZO. i.e., the encircled sell signals on the chart.
Regards,
Akram El Sherbini
$EGX30 a threat to break the uptrend$EGX30 a threat to break the uptrend that was created 17 years ago.
EGX30 is the major index of Egypt stock exchange which showed uptrend from 2002
two major technical sign for downside Head and two shoulders
EGX30Hello Traders! Please support this idea with a LIKE if you find it useful. EGX30- This post does not provide financial advice. It is for educational purposes only.
EGX30 - Egyptian Stock Market - weekly chartA negative Elliot wave scenario for EGX30 under 11000 may go down to 7800 as a first target then down to 6000 but above 11000 will cancel this scenario
Sell in May and go away
Pressure Wave of SHO and WPZOBased upon
"Time Cycle Oscillators" published in IFTA journal 2018.
"Wave Period Zone Oscillator" published in IFTA Newsletter December, 2017.
Expected volatility after the SHI/SHO/WPO/WPZO forms a pressure wave (PW).
the volatility is higher when the PW is longer.
Akram
