Cairo – Mubasher: Pioneers Holding registered the highest stock quote since September 2014 after rising 3.3% to EGP 12.5 by 11:00am Cairo time.

The stock is on trying to break the barrier of EGP 12.55 to starting target the EGP 14.4 zone, said Al-Naeem research.

Investors are advised to buy the stock after breaking the first resistance at EGP 12.55, Al-Naeem added, clarifying that EGP 11.85 is the stop-loss mark.

Pioneers reported a 75.3% decline in its profits for the third quarter after earning EGP 151.2 million, compared with EGP 265 million for the year-ago period, according to a bourse filing on Sunday.

Over the first nine months, consolidated profits rose 6.3% year-over year to EGP 855.8 million from EGP 801.8 million.