Cairo – Mubasher: ElSaeed Contracting and Real Estate Investment Company’s share price is showing signs of weakening buying momentum due to the convergence of recent price peaks, technically indicating a potential temporary price correction.
The Relative Strength Index (RSI) indicated a negative divergence, reflecting a decline in short-term buying power despite price stability and the maintenance of key support at EGP 1.45.
The price is currently approaching a significant demand zone between EGP 1.45 and EGP 1.47, a crucial support level where selling pressure may ease or buying activity may emerge.
In case the price responds to this zone, a rebound to EGP 1.50 and EGP 1.53 is possible, followed by a peak of EGP 1.60-EGP 1.63. A break above this level could push the price towards EGP 1.66.
Conversely, if the price remains below the support level, it could decline towards the support level of EGP 1.40-EGP 1.38.
The share price of Upper Egypt General Contracting began trading in the first quarter of 2025 near EGP 0.89 and recorded a notable increase, reaching EGP 1.20. However, it faced selling pressure from May to June.
Starting in July, the share price witnessed a significant rise with increased trading volumes, entering a strong upward trend that continued until December.
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.
