ELSWEDY ELECTRIC

SWDY Chart Analysis

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El Sewedy Electric stock trend rose last period from the support line 76.249 to the resistance line 83.77, then rebounded to reach the support line 79.001, so the general trend was down by 1.04%. The stock rose and broke the first support line at 78.287, to get the second support line at 78.389, then the third support line at 78.650. On the other hand, when the stock rebounded, it broke the first resistance line at 83.505 to reach the second resistance line at 83.097, then the third resistance line at 82.914. This upward trend is due to the acquisition of the majority of the stake in Thomassen Service, which is 60%. This step unlocks expansion into Europe, the Middle East, and Africa.

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