Cairo – Mubasher: The stock Arab Cotton Ginning Company is moving within an ascending channel, with the price currently trading near the channel's midline, a key support level.
Mubasher Research highlighted that the continuation of the upward trend hinges on the stock's ability to break through the major resistance level around EGP 9.00.
Holding above this level would strengthen the target of EGP 9.13, followed by EGP 9.40.
The price is trading above the moving average, which is acting as dynamic support. To maintain the positive momentum, the support level of EGP 8.25 must be held.
Price Action Summary
Arab Cotton Ginning's stock experienced sideways movement in January 2025.
Starting in February, the price successfully broke out of the sideways range with high trading volumes and entered a strong upward trend that lasted until June, reaching a historic high of EGP 10.38.
Then, the price underwent a sharp correction until September, before rebounding and moving within an ascending channel until January 2026.
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.
