Cairo – Mubasher: Technical movements signaled by Mubasher Trade Research indicate that the stock of Egyptian Resorts Company, known as ERC, is moving in a downward sub-trend, as the Relative Strength Index (RSI) is approaching oversold areas while the average directional index (ADX) reflects the strength of the current selling wave.
The current nearest support level lies at EGP 7.55, which must be maintained to avoid further declines. In case of holding below this level, the downward movement is likely to extend to the EGP 7.50 – EGP 7.30 levels, based on Fibonacci retracement ratios.
Mubasher Trade Research expects that this area will represent an important observation point, as it may witness a decrease in the pace of selling pressures or the emergence of speculative buying interaction.
It added that to return to a positive trend, it is necessary to maintain a position above the level of EGP 8.55 in order to target the EGP 9.20 level.
Price Movement Summary
The Egyptian Resorts stock experienced sideways movement during its trading in January and February 2025.
Starting from March, the price succeeded in rising with a noticeable increase in trading volumes until May, which was followeby sharp selling pressures that continued until December.
Important note: This analysis is based solely on the principles and tools of technical analysis and reflects a purely analytical perspective that may vary depending on the methods of interpretation and estimation. What is stated in this report is not considered a direct recommendation to buy or sell or an invitation to make any investment decisions, but rather for monitoring and study purposes. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.
