Cairo - Mubasher: The stock of Edita Food Industries continued its record-breaking run, reaching levels near EGP 29.70.
The price is currently testing a key support level around EGP 29.25. If it holds above this level, it will strengthen the possibility of targeting new record highs near EGP 31.15.
A break above this level would push the price towards EGP 32.70 and then EGP 32.95.
Mubasher Research highlighted that the Relative Strength Index (RSI) is showing negative divergence, with the index making lower highs while the price is making higher highs.
This suggests a potential slowdown in the upward movement. Monitoring the price's close at the aforementioned support level will indicate the next move.
If the price closes below this support level, the nearest support level will be near EGP 28.75, followed by EGP 27.00. Holding this support level is crucial for maintaining the positive short-term outlook.
Price Action Summary
Edita's stock began trading in the first half (H1) of 2025 with a sideways movement, failing to break through key levels between support at EGP 12.60 and resistance at EGP 14.40.
It then recorded a notable rise starting in July, forming a historical peak in January 2026 near EGP 29.70.
Disclaimer:
This analysis is based on technical analysis tools and reflects a comprehensive analytical view that may vary depending on interpretation methods.
It does not constitute a direct recommendation to buy or sell, nor an invitation to make investment decisions. This is intended solely for monitoring and study purposes. Investment decisions are the sole responsibility of the investor, based on their financial situation and investment goals.
