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07:32 PM Market Closed

Daily Suggested Stocks


Market Commentary : 23 / 1 / 2018 The EGX30 witnessed a downward move as selling pressure continued in most of the stocks pulling the index back closing on the day’s low confirming the violation of the support level 15350 turning it into resistance. Yet, coming target 15700 is expected to be reached where as we said, we may use to continue trading on but current decline will likely reach the mentioned support before. Buying near supports is recommended but we should keep protective stops placed and respected to protect our rades. On the other side, held positions are advised to move their protective stops higher as the market rallies to protect profits.

Achievements


Market Commentary : 21 / 01 / 2018

The EGX30 soared hitting a new historical high and hour first target and resistance level 15350 closing above near the high as strong buying power continued in most of the stocks, trading volumes increased significantly suggesting consistency.

Yet, coming target 15700 is expected to be reached where as we may use to continue trading on.

We recommend to continue trading on the stocks that managed to make successful breakouts using the new target levels to trade on.

On the other side, held positions are advised to move their protective stops higher as the market rallies to protect profits.


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Disclaimer


This page has been prepared by Blom Egypt Securities for information purposes only. It is not intended as an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned. The information and opinions in this page were prepared by Blom Egypt Securities research department accepts no liability or legal responsibility for losses and damages incurred arising from the use of this page or its contents.