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07:34 PM Market Closed

Daily Suggested Stocks


Stocks recommendations:

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.



Achievements


Market Commentary : 17 / 01 / 2018

The EGX30 kept fluctuating between negative and positive territories but selling pressure remained the upper hand closing the index negative and on the session’s low.

We still see that the decline is a simple correction to the previous rally and represents a good buying opportunity that we can use to buy gradually on.

Yet, coming targets are at 15350 and 15700 where as we said we may use to trade gradually on.

We recommend to trade only 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.