CHART OF THE DAY: EGX30

The long-term investor must monitor these two levels!
By Markets Chimp

1/1/18 10:19 PM

 

Monthly Chart:

(Click on the chart to ENLARGE)

  • The monthly chart of the Egyptian Stock Market Index (EGX30) shows clearly a very important technical manifestation; the current rising channel (blue lines).
  • The rising channel indicates that the index has an active target near 16,000, near which the long-term investor should take some profits.
  • On the other hand, the only major bearish signal will be triggered only after a decisive breakout below 13,500, and this means that as long as the index keeps rising over this level, the long-term investor should not get worried!

Related

Load More