MHOT Bullish Breakout – Targeting 33/36/39.9 EGP After Range EscMHOT (EGX) just confirmed a breakout above a long-standing sideways range near 29.5 EGP, supported by increasing bullish momentum across multiple indicators.
📈 Ichimoku Cloud: Price is clearly above the cloud on both daily and weekly charts — signaling strong trend structure.
💪 MACD + SQZMOM: Both confirm momentum acceleration and possible trend ignition.
📊 Stochastic RSI + RSI: Still have room for upside without being overextended.
🎯 Trade Plan:
Entry 1: 30.50 EGP
Entry 2: 29.40 EGP (support retest)
TP1: 33.00 EGP
TP2: 36.00 EGP
TP3: 39.90 EGP
Stop: 27.70 EGP
⏳ This setup favors swing traders looking to ride a multi-week move toward previous highs, with a risk-reward ratio up to 3.5.
🚨 As always, use proper position sizing and risk management.
