Cairo - Mubasher: The stock of Cairo Oils and Soap has been moving in a minor upward trend recently, following a sharp decline at the beginning of 2025, according to technical analysis.
Mubasher Research mentioned that the price successfully broke through the moving average and stabilized above a key resistance level around EGP 1.50-1.60.
The price attempted to break the descending trend line, but trading volumes decreased, indicating weak current buying momentum. The Relative Strength Index (RSI) is also below overbought territory, supporting a correction.
Mubasher Research highlighted that the price is currently retesting the descending trend line. If the price exhibits positive price action from the support zone with high trading volumes, it could target EGP 1.60, then EGP 1.65.
If the price successfully surpasses this level, the next target would be EGP 1.70, followed by EGP 1.775.
Price Action Summary
The EGX-listed firm’s stock witnessed a strong rise in January 2025, with the price moving upwards from EGP 1.28 to EGP 2.23.
Following this rise, the stock experienced a sharp decline from February until September. Then, the price managed to rise from October onwards, with a noticeable improvement in trading volumes, surpassing important resistance levels.
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.
