Cairo – Mubasher: The stock of ElSaeed Contracting and Real Estate Investment Company is moving in a major upward trend, as it experienced some selling pressure to test a key demand zone at EGP 1.25.
Technical analysis noted that the stock subsequently recovered and traded above this level after a false breakout. It is currently exhibiting relatively positive price behavior, approaching a pivotal secondary resistance at EGP 1.44.
A break above this level, supported by increased trading volumes, would be a positive signal that could support further upward movement toward the EGP 1.477–EGP 1.50 range.
If the buying momentum continues, the next targets could extend towards EGP 1.53-EGP 1.57, a key supply zone. A break above this level would strengthen the chances of a continued upward trend towards higher levels near 1.62-1.67.
Conversely, a break below EGP 1.388 would threaten short-term upside potential.
Price Action Summary
The company’s stock began trading in 2026 at relatively high levels before entering a deep corrective move to test a key support level at EGP 1.25.
It successfully held this level, making the corrective move within a healthy framework for the overall upward trend.
Positive price action was observed, characterized by the formation of rising lows, reflecting a relative decrease in selling pressure.
Meanwhile, the stock is moving towards testing a major resistance level at EGP 1.44. A break above this level would be a positive signal that could support a resumption of the upward trend.
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.
