Cairo - Mubasher: The stock of Talaat Moustafa Group Holding Company (TMG Holding) experienced significant selling pressure after reaching its all-time high near EGP 97.40.
The stock then moved to a key support level around EGP 75, according to Mubasher Research.
It managed to consolidate and maintain this support level, forming a double bottom pattern. This pattern suggests an attempt to establish a price base after a previous downward wave, a reversal pattern.
If the stock successfully breaks through the neckline around EGP 81.30, it reflects a relative shift in the balance of power in favor of buyers and supports the potential for targeting EGP 83.10-EGP 84.60. A break above this level would push the price towards EGP 86.18.
On the other hand, the EGP 78.60 level remains crucial, as a break below it could weaken the upward momentum and lead to a return to sideways movement.
Price Action Summary
The group’s stock began trading in 2026 with positive performance. In January, it broke through the accumulation phase that had formed during December of the previous year, supporting a strong upward move.
This momentum continued until February, surpassing the previous peak and reaching new all-time highs near EGP 97.40. However, the stock then came under intense selling pressure that extended into March, pulling it back to test the key support level at EGP 75.
It managed to hold above this level and entered a consolidation phase, reflecting attempts to stabilize. Despite the recent sharp declines, the overall trend for the stock remains bullish in the long term, supported by its ability to maintain the key support 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.
