#MOIL - Egyptian stock#MOIL time frame 1 hour
created a bullish Gartley pattern
Entry level around 0.338
Stop loss 0.334 ( estimated loss -1.10% )
First target at 0.346 ( estimated profit around 2.50% )
Second target 0.354( estimated profit around 4.80% )
Third target 0.363 ( estimated profit 7% )
Note : In addition there is positive diversion at RSI and MACD , that may be support our idea .
NOTE : this data according to time frame I hour
Its not an advice for investing only my vision according to the data on chart
Please consult your account manager before investing
Thanks and good luck
MOIL trade ideas
Turtle arrow movement scenarioAs a result of the good news in the statements of the US president, including the trend to reduce interest rates and is expected to have a positive impact on the markets, we hope that the Egyptian market is also affected positively.
The stock's performance in the current period is positive and we hope that it will continue so it is expected a weak downward movement and then rise to the levels shown on the chart.
And beware of breaking the 340 level
Thank God always... Good luck to everyone.
Updating for the last chart The stock's performance over the past few days does not contradict the previous analysis. The last candle on the chart so far formed liquidly and the price reached the 0.35 level and quickly returned to the rise.
Noting that the stock has been moving for 12 weekly candles in a horizontal movement between a price range (0.340: 0.432).
God willing, this will not cause concern about falling to a level below 0.35
Currently, purchasing is the best opportunity for the short- and long-term investor.
If we assume the maximum level that can be reached, which is the area of monthly imbalance at the bottom of the chart, the maximum price will reach 0.25, and this is not possible except in cases of crises or disasters, God Almighty forbid.
It is considered a great purchasing area to compensate for any loss in the past
so It is safe to recommend buying in the areas indicated on the chart (0.35-0.36-0.365).
Hoping for success from God Almighty
I wish everyone success from God Almighty
Maridive Egypt has a potential to rebound & target 0.432, 0.450Daily chart, the stock EGX:MOIL is trading in a flag chart pattern inside an expanding triangle.
I see the price has a high probability to rebound to resistance line R1 from the support zone 0.375 - 0.371, then the target will be blue line R2 (around 0.408 - 0.405)
Above R2, the targets are shown on chart.
Note: New entry should be after clear rebound.
Stop loss below 0.370 should be considered.