Cairo – Mubasher: Technical movements signaled by Mubasher Trade Research indicate that the stock of Telecom Egypt is moving in an upward direction, with the stock forming higher peaks and troughs without deep corrections, which indicates the strength of the upward movement.
The stock is currently moving within a downward channel and is testing the upper limit of the channel; if the stock succeeds in breaking through and stabilizing above the peak of EGP 66.40, it will enhance the possibility of targeting higher levels at EGP 68.50.
On the other hand, if the stock does not break through the upper limit of the channel, it could lead to a price decline and retesting the support level at EGP 60.50.
Price Movement Summary
The stock of Telecom Egypt showed signs of an upward trend in January and February 2025, which was followed by a noticeable decline in March to test January's support.
According to Mubasher Trade Research, starting from April, the stock began to show signs of recovery by forming higher lows and peaks, establishing a strong upward trend supported by high trading volumes, which continued until December.
Important note: This analysis relies solely on the foundations and tools of technical analysis, reflecting a purely analytical perspective that may vary based on different reading and interpretation methods. What is stated in this report is not considered a direct recommendation to buy or sell or an invitation to make any investment decisions; rather, it is for monitoring and study purposes. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.
