last Thursday, EGX30 witnessed a buying pressure after testing the support that lies at 17750 point, which increases the importance of that support. The major resistance lies at 18143 point, which is the level that the EGX30 needs to break it to above, to confirm the continuation of the major uptrend on medium term basis, which will trigger a new buying signal with targets near to 18415 - 20000 - 21075 point on short term basis.
the vision will still positive towards the EGX30, and that's based on the positivity of the technical indicators, and there is improvement in the performance of some of leading stocks, which increases the possibility of achieving the positive scenario and break the mentioned major resistance.
Thus, we recommend to step in only if the 18145 is broken upwards, with a stop loss under 17295 point.
the vision will still positive towards the EGX30, and that's based on the positivity of the technical indicators, and there is improvement in the performance of some of leading stocks, which increases the possibility of achieving the positive scenario and break the mentioned major resistance.
Thus, we recommend to step in only if the 18145 is broken upwards, with a stop loss under 17295 point.