Cairo – Mubasher: The stock of EFG Holding has been trading within an ascending price channel since mid-2022, maintaining a positive long-term trend despite repeated corrections within the channel.
Mubasher Research highlighted that the stock rebounded in recent weeks from the lower boundary of the channel at levels near EGP 23.00 and continued its upward trend to exceed EGP 28.00, with gains of nearly 5.00% over the past week. This reinforces the possibility of targeting the upper boundary again near EGP 32.00.
In the medium term, indicators support this positive scenario, as the MACD indicator is showing a new positive crossover, while the Relative Strength Index (RSI) is moving upward, reflecting a gradual improvement in purchasing power.
On the other hand, the 200-day moving average remains around EGP 17.00 below the stock's current price, confirming the stability of the main upward trend.
As for the overall trend, it remains positive as long as the stock maintains the channel support at EGP 23.00. A break above EGP 29.00 with a strong weekly close would signal a continuation of the upward trend toward previous highs.
Likewise, EFG Holding's stock witnessed a strong rally at the beginning of 2025, lasting for nearly two quarters, with the price moving from levels near EGP 19.00.
This positive momentum continued with short pauses and minor corrections. Then, the stock broke through key resistance levels to reach its highest levels at the end of May, reaching a peak of around EGP 32.00. This phase was the strongest and most profitable to date.
The stock later experienced a sharp and rapid decline during June and July, losing a third of its market value before bouncing back higher in an attempt to resume its main upward trend.
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.
