Cairo - Mubasher: The stock of Ismailia National Food Industries (Foodico) has experienced a notable decline after reaching historic highs near EGP 100, but the overall trend remains upward.
The stock successfully maintained its key support level at EGP 82.00, bolstering price stability. It then broke through a significant resistance level at EGP 87.88, supporting the potential for an upward move toward EGP 91 as the initial target.
Mubasher Research elaborated that if the positive momentum persists and we surpass this level, the upward trend may extend towards the EGP 92.80-94.20 range.
Conversely, EGP 87.40 remains a crucial support level, as maintaining trading above this level is essential for the continuation of the positive scenario.
Price Action Summary
Foodico's stock experienced significant volatility at the beginning of 2025. In January, the stock reached a historic high near EGP 77.95 before experiencing a strong profit-taking wave that pushed the price into a downward trend that lasted until June, with the stock reaching a low of EGP 47.55.
Following these declines, the stock began to establish a strong price base, supported by a gradual return of buying momentum.
A series of rising peaks and troughs emerged, gradually shifting the stock's movement into a clear upward trend. The stock reached a historic high of approximately EGP 100 in January 2026.
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.
