Cairo - Mubasher: The Raya Customer Experience’s (RAYA CX) stock is moving in a secondary downtrend after reaching a historic high of EGP 12.15.
The price successfully rebounded from a key support level around EGP 8.20 and broke through a secondary downtrend line.
It is currently testing a significant technical level around EGP 9.30, which represents both technical resistance on the chart and a psychological barrier for traders.
A successful and sustained break above this level, accompanied by strong trading volumes, would pave the way for a move towards EGP 9.60-EGP 9.90. Conversely, holding below EGP 8.75 weakens the upward momentum and could lead to a decline towards EGP 8.35.
Technical indicators point to a positive performance, as the Relative Strength Index (RSI) is moving above the neutral level, while the Average Directional Index (ADX) is showing a positive signal, reflecting strong buying momentum, supported by the +DI crossing above the -DI.
RAYA CX’s stock began trading in 2025 within a sideways range with relatively weak trading volumes. This sideways range persisted from January to September, reflecting a clear balance between supply and demand forces and the absence of a defined trend.
At the beginning of October, the stock broke out of this sideways range, supported by a significant increase in trading volumes, indicating improved buying momentum. It continued its upward trajectory, reaching a record high of 12.15 riyals.
However, the stock subsequently experienced a sharp decline that lasted until January 2026 before beginning a new upward attempt in February to test a key resistance level.
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.
