Cairo - Mubasher: Technical analysis indicates that Bonyan for Development and Trade’s stock has regained momentum after breaking through the consolidation range that persisted from the last quarter of 2025 until February 2026.
This breakout follows the stock's surpassing of the sideways resistance level at EGP 4.05, accompanied by high trading volumes and a break above the short-term moving average, reflecting a return of buying momentum.
According to Mubasher Research, the stock is currently facing digital resistance based on Fibonacci retracement ratios around EGP 4.24.
A break above this level could pave the way for further gains towards EGP 4.39-4.50, and potentially extend to EGP 4.60-4.835 if buying pressure persists.
On the other hand, the EGP 4.03 level remains crucial. Holding below it could lead to a correction towards the main support level at EGP 3.93-3.90.
Price Action Summary
Bonyan's stock was listed on the Egyptian Exchange at 4.96 on July 22, 2025, having reached a high of around EGP 5.15.
The stock then began forming lower highs and lows with decreasing trading volumes, leading to a continued downward trend until September. Then, it entered a consolidation phase without breaking through key levels until February 2026.
In March, the price successfully broke through the sideways range resistance near 4.03, accompanied by high trading volumes, indicating the potential for higher levels in the coming sessions.
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. The content 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.
