Expanded EGX30 Technical Analysis Report

• Market: EGX30 Index (EGP)
• Published: April 19, 2025
• Analyst Commentary: Multi‑timeframe, indicator‑supported breakdown with emphasis on structure, momentum, and projected zones.

1. Weekly Chart Breakdown (Top Left)

• 🟢 Bullish Candle Formation:
  • The current weekly candle closed higher than the previous one, forming a bullish continuation after bouncing from ~30,000 EGP lows.
  • Volume: 661.36M suggests strong institutional interest during rebound.
• 🔄 Market Structure:
  • Weekly trend remains bullish, following a clear V‑shaped recovery from mid‑March.
  • A higher low vs. February indicates a new base for an upward leg.
• 📉 Moving Averages:
  • SMA(10): 31,103 EGP (price just above)
  • SMA(50): 29,790 EGP (well below)
  • Short‑term MA flattening but still tilting up—consistent with a maturing uptrend.
• 🎯 Weekly Resistance/Support:
  • Immediate Resistance: ~31,300 (Wick High)
  • Support Zone: 30,600–30,900
  • Weekly close above 31,300 could ignite further bullish momentum.

2. Indicators Analysis (Top Right)

• RSI: 49.19, near key pivot of 50—on the verge of sentiment shift.
• ADX: 52.19—strong trend presence, +DI > -DI signalling bull control.
• Stochastic RSI: Recovering from oversold (~39), no clean bullish crossover yet.
• ATR (14‑period): 480 pts—moderately low volatility near breakout zones.

3. Daily Chart Analysis (Bottom Left)

• Price hovered ~31,000 between April 15–17, forming support.
• April 17 closed as a bullish candle with long lower wick, rejecting 30,900 zone.
• Price now squeezed between 30,850 (support) and 31,150 (resistance); inside candle implies indecision.

4. 4H Intraday Breakdown (Bottom Right)

• Current Price: 31,063 (+3.46% intraday)
• Tested PDH and now challenging PMH (31,750) & PWH.
• Supply zone marked 31,100–31,750 with multiple past rejections.

• All 4H SMAs (20/50/200) align bullish—confirming medium‑term upward bias.

🔮 Strategic Forecast

• ✅ Bullish Case:
  • Trigger: Confirmed close above 31,300 (weekly/daily).
  • Targets: 31,750 → 32,000+
  • Support: 30,900 / 30,457
• ⚠️ Bearish Contingency:
  • Risk: Rejection from supply zone (PMH/PWH).
  • Pullback Zones: 30,750 → 30,500 → 30,250
  • Lower RSI & unconfirmed Stochastic may lead to brief consolidation.

✅ Final Thoughts

The EGX30 Index is set up for a potential breakout after this constructive recovery. Watch 31,300–31,750 for historical supply. A decisive push above could lead toward 32,000+, while failure may see a minor retracement.