Cairo – Mubasher: Technical movements signaled by Mubasher Trade Research indicate that the stock of Lecico Egypt has experienced a strong rise in yesterday's session, 3 February 2025, breaking out of a short-term downward trend line.
The price is currently testing a significant resistance near the EGP 25.65 level, which coincides with the testing of the moving average that acts as a dynamic resistance for the price. Meanwhile, a breakout above this level would push the price toward the EGP 26.15 – 26.80 level.
On the other hand, holding above this level with high trading volumes is likely to extend the upward movement to the EGP 27.70 level.
Mubasher Trade Research noted that the support level of EGP 24.70 - 24.50 should be maintained to keep the short-term positive outlook.
The ADX indicator shows a positive signal reflecting the strength of the buying momentum, supported by the +DI line crossing above the -DI line in addition to the stability of the ADX above the 39 level.
Price Movement Summary
The Lecico Egypt stock began its trading in 2025 with a sideways movement during January and February, followed by facing severe selling pressure during the period from March to June, where the price dropped from EGP 32.50 to EGP 21.
The price then managed to rise with a noticeable increase in trading volumes until November. Afterwards, the price entered a sideways range until February 2026.
Important note: 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 interpretation and assessment. 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.
