Blom Egypt Securities Website

  
04:05 AM Market Closed

Daily Suggested Stocks


 Market Commentary

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.

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


Achievements


 Market Commentary

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. 


2 3 4  5 
 

Send a Message


 
Name
*
 
Company
*
 
Email
*Invalid format.
 
Tel
* Invalid format. Min 8 Max 16 Min 8 Max 16
 
Your Message to Blom
 


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.