Cairo – Mubasher: Technical movements signaled by Mubasher Trade Research indicate that the stock of Orascom Development Egypt is currently maintaining an upward direction, as the price succeeded in reaching a historical peak at EGP 27.15 while managing to hold the EGP 22.45 support level.
Meanwhile, the price is currently facing resistance at around EGP 23.95 – EGP 24.35 and in case this level is surpassed, it would target the EGP 24.85 – EGP 24.95 level, which also represents strong resistance. Inaddition, surpassing this level will push the price towards EGP 25.85 and afterwards to the historical peak at EGP 27.15.
On the other hand, in case of closing below the EGP 22.45 support level with two consecutive candles without an intervening reversal candle, the nearest strong demand zone will be at EGP 21.50 – EGP 21. Mubasher Trade Research said that it is expected that this area will represent an important observation point, as it may witness a slowdown in selling pressure or the emergence of buying interest.
Price Movement Summary
Since the beginning of 2025, Orascom Development stock entered a sideways movement phase after a strong upward wave that started from levels close to EGP 16 and reached a peak near EGP 27.
The stock was unable to maintain its upward momentum and began a corrective wave that led to a decline of the stock to EGP 20, which is a major support area.
Then the stock started to rise with a noticeable increase in trading volumes, entering an upward trend until December, hitting a historical peak at EGP 27.15, which was followed by facing severe selling pressure until January 2026, but the overall trend of the stock remains upward.
Important note: This analysis relies solely on the foundations and tools of technical analysis and reflects a purely analytical perspective that may vary depending on the methods of interpretation and assessment. What is stated in this report should not be considered a direct recommendation to buy or sell, nor an invitation to make any investment decisions; it is for monitoring and study purposes only. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.
