Daily Suggested Stocks
The EGX30 continued down reaching the support level 14650 where rebounding process took place pushing the index up higher closing slightly above the resistance level 14780 which still needs confirmation due to lack of trading volumes which raise doubts about the rally consistency keeping risk elevated.
Recent closed trades are advise to stay on cash till a confirmed reentry signal is clear, while held ones should keep protective stops placed and respected to stay protected against any further setbacks.
The EGX30 witnessed another upward move reaching the resistance level 15350 trading above before selling pressure takes place pulling the index back but remained above. Yet, another day close above is still needed to confirm the breakout.
Send a Message
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.