Cairo - Mubasher: Technical analysis indicates that Telecom Egypt's stock reached unprecedented historical highs near EGP 113 before experiencing a sharp correction while maintaining its overall upward trend.
The stock subsequently rebounded from a key demand zone near EGP 92.20, accompanied by a noticeable improvement in trading volumes.
It currently faces major resistance at EGP 96.65, and a break above this level would support further upward movement towards EGP 99.10.
A break above this level would push the price towards EGP 101.00. Conversely, holding below EGP 93 weakens the short-term upside potential and could lead to a decline towards EGP 91.
Price Action Summary
Telecom Egypt's stock has been trading in a clear upward trend since the beginning of 2025.
In January and February, the stock formed strong support between EGP 30.00 and EGP 34.00, then began a gradual rise, forming higher lows and higher highs starting in March, reaching EGP 38.00 in May.
After a period of relative stability during June and July, the price began to rise, accompanied by a significant improvement in trading volumes in August.
This led to the stock entering a sharp upward trend with a steep angle, indicating the strength and acceleration of the upward movement until February 2026, when it reached a historic high near EGP 113.
This performance reflects a marked improvement in investor confidence, making the stock one of the top-performing stocks of the year.
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.
