Cairo - Mubasher: Technical analysis indicates that Talaat Moustafa Group Holding Company’s (TMG Holding)stock played a pivotal role in bringing the EGX30 index back into positive territory during Wednesday's session.
This came after the index had fallen to 38,718 points mid-session under significant selling pressure.
Strong buying activity in the stock towards the end of the session was the primary factor in mitigating the index's losses and preventing it from closing lower, demonstrating once again its ability to support market stability as a leading stock with a clear impact on the index's movement.
From a technical perspective, the stock successfully concluded a long accumulation phase that had extended since mid-2024, breaking through previous resistance levels with high trading volumes, confirming the resurgence of buying power.
Mubasher Research highlighted that the price is currently trading above the 9-week moving average, reinforcing the short- and medium-term positive trend.
The 200-week moving average continues its upward trajectory, supporting the stock's overall bullish outlook.
On the other hand, technical indicators point to a significant improvement in momentum. The RSI has broken out of its previous slowdown and remains positive.
The MACD shows a clear bullish reversal signal above the signal line after a period of relative calm.
The stock remains close to a key psychological resistance level at 70.00. A break above 70.00 would signal the opening of new medium-term highs, with the first target being 76.00.
Price Action Summary
TMG Holding’s stock began 2025 around the 55.00 level. It then entered a gradual downward trend with a slight sideways bias, driven by clear selling pressure in the first quarter.
The price movement reached its lowest point at 46.50 in April 2025, after which the stock experienced a strong rebound that lasted throughout May and June.
Buyers successfully recovered all previous losses and broke through the yearly opening levels, reaching their highest price since the beginning of 2025 at 59.00. The stock then began trading within a wide sideways range, which was recently broken.
About TMG Holding
TMG Holding is one of the largest real estate developers in Egypt and the region, with a proven track record in developing integrated cities and major residential, commercial, and tourism projects.
The group's portfolio includes pioneering projects, such as Madinaty, Rehab, and San Stefano, in addition to its regional expansion through Talaat Moustafa Developments in Saudi Arabia and its subsidiaries operating in real estate development and investment.
The group's market cap amounts to nearly EGP 115.9 billion, with 2.06 billion shares outstanding, giving it a relative weight of 9.44% on the EGX30 index, making it one of the largest constituents of the index and a prominent component of the real estate sector on the EGX.
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.
