Daily Suggested Stocks
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.
Abu Dhabi international bank (ADIB.CA):
Rally is expected to continue to the second target and resistance level 17.80.
Cleopatra Hospital (CLHO.CA):
Rally is expected to continue to the target and resistance zone [5.15-5.25].
Cairo pharmaceuticals (CPCI.CA):
Rally is expected to continue to the target and resistance level 42.50. Notice, that breaking this level will set new bullish targets at 46.50 and 50.50.
Egyptian Kuwaiti holding (EKHO.CA):
As bulls managed to clear our resistance level 0.94, the rally is expected to extend to 1.00 where we may trade on.
Al Ezz steel rebar’s (ESRS.CA):
Breaking the resistance level 22.80, rally will easily continue to our first target and resistance level 23.60 and may continue to the second target level 25.00 in case of clearing the mentioned resistance.
Misr fertilizers production Co. (MFPC.CA):
Bullish trend confirmed after breaking to a new high above the resistance level 103.90, targets now are set at 110.50 & 118.00 where we may use to trade gradually on.
Pioneers holding (PIOH.CA):
Rally is expected to continue to the target and resistance zone [9.50-9.70].
United Arab stevedoring (UASG.CA):
Breaking the resistance level 1.71, targets will be set at 1.78 & 1.85 where we may use to trade gradually on.
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