Cairo - Mubasher: Technical analysis indicates that the stock of Telecom Egypt experienced selling pressure that extended into March after reaching a historic high near EGP 113 in February. This movement is considered a minor correction within the main upward trend.
According to Mubasher Research, the stock successfully rebounded from a key support level near EGP 77.20, supported by a noticeable improvement in trading volumes and its stability above the short-term moving average, along with a positive close in the last session.
Meanwhile, the stock is currently facing a significant technical level at EGP 88.80.
Holding above this level could pave the way for targeting the 90.64-91.93 range. A break above this area would strengthen the chances of continuing the upward movement towards 94.65.
As for support, holding above 85.65 remains a supporting factor for the continuation of the positive short-term outlook, while trading below this level could limit the upward potential.
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 30.00 and 34.00, then began a gradual rise, forming higher lows and higher highs starting in March.
The price then began to climb with a noticeable improvement in trading volumes, leading the stock into a steep upward trend, 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 significant improvement in investor confidence, making the stock one of the top-performing stocks of the year.
The stock then experienced a sharp correction due to profit-taking that lasted until March, but the main trend remained upward. The stock successfully rebounded from the key support level near EGP 77.20.
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.
