Cairo – Mubasher: Technical movements signaled by Mubasher Trade Research indicate that the stock of Amer Group Holding Company is trading in an upward direction above the moving average, while the Relative Strength Index (RSI) is approaching overbought areas, which may push the stock to profit-taking transactions.
There is also a positive divergence on the index that is considered a technical signal for the possibility of entering a short-term correction.
According to Mubasher Trade Research, the stock is currently approaching a resistance level at EGP 2.90; if it manages to break through, the stock may support the continuation of the upward movement toward the EGP 3.55 level.
Meanwhile, if the stock declines before reaching the targeted resistance, the support level will be at EGP 1.88 which will be followed by support at EGP 1.63.
Price Movement Summary
The stock Amer Group started 2025 on a positive note in the first quarter (Q1) of the year, where it began trading at EGP 1.15 and rose to EGP 1.50.
Starting from June, the stock experienced some corrections and entered a sideways range until the beginning of October. Then, the stock succeeded in breaking out of the sideways range in mid-October, where it formed a strong upward trend supported by high trading volumes.
Important note: This analysis is based 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.
