Cairo - Mubasher: The stock of Egyptian Media Production City Company (EMPC) showed clear momentum in Wednesday’s session, testing the main resistance of the descending channel around EGP 29.50.
However, the price closed below this resistance. The stock is exhibiting a double bottom reversal pattern, indicating an attempt to establish a price base after a previous downward wave.
The stock's success in breaking through the neckline around EGP 29.50 reflects a relative shift in the balance of power in favor of buyers, supporting the target of EGP 30.114-EGP 30.52.
If the buying momentum continues, the upward movement could extend towards the EGP 31.16-EGP 31.65 levels.
The ADX indicator is showing a positive signal, reflecting the strength of the buying momentum, supported by the +DI crossing above the -DI.
The company’s stock began trading in 2025 with a notable rise, then faced sharp selling pressure from February until April. Starting in May, the stock successfully formed rising bottoms with increased trading volumes, reaching a historic high near EGP 37.20 in September.
The price then experienced a sharp decline as a result of profit-taking during the fourth quarter (Q4) of 2025, and the selling pressure continued until March of 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. The content 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.
