Cairo – Mubasher: The stock of Elsewedy Electric Company has continued moving in a sideways trajectory, but the price lately showed an upward structure on smaller time frames and is currently testing an important demand zone at around EGP 77 – EGP 76.50, according to Mubasher Trade Research.
It is possible to build buying positions by targeting the level of EGP 80, followed by EGP 80.95, and then the EGP 83 peak level.
Mubasher Trade Research noted that a breakout above EGP 83 could pave the way to targeting the EGP 88 level.
The Relative Strength Index (RSI) shows a relative weakness in buying momentum compared to previous periods.
Meanwhile, it is important to maintain the EGP 75.90 level to preserve the positive outlook and avoid further declines.
Price Movement Summary
Elsewedy Electric stock began its trading in 2025 with a notable rise in January, where it formed higher peaks and troughs on the back of increasing trading volumes.
Starting from February until January 2026, the stock moved in a wide sideways direction between a peak of EGP 88.80 and a support level of EGP 70 without breaking through main levels.
Important notice: This analysis relies solely on the foundations and tools of technical analysis and reflects a purely analytical perspective that may vary depending on the methods of reading and interpretation. What is stated in this report is not considered a direct recommendation to buy or sell, nor an invitation to make any investment decisions; it is for monitoring and study purposes only. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.
