Cairo - Mubasher: Technical analysis indicates that the stock of Dice for Ready-Made Garments has seen a significant improvement in trading volumes since March 2026, following its movement within a secondary downtrend within a descending channel pattern.
Mubasher Research indicated that the stock managed to break through the upper channel boundary near EGP 1.78 before retesting the breached resistance. It has shown consolidation above this level, supported by positive candlestick patterns, reflecting improved buying momentum.
The stock currently faces Fibonacci retracement resistance near EGP 1.87. A confirmed close above this level, accompanied by high trading volumes, could strengthen the chances of targeting the EGP 1.91-1.945 range. A break above this level could extend the upward movement towards EGP 1.978-2.03.
However, the EGP 1.805 level must be held to support short-term bullish prospects. A price stabilization below this level would signal weakening buying momentum.
Price Action Summary
Dice stock performed positively during the first quarter of 2025, supported by strong trading volumes, which sustained the upward trend. The stock experienced a correction and consolidation phase during April and May.
It then resumed its upward trajectory, reaching unprecedented historical highs around EGP 2.22 in July 2025. Subsequently, the price came under selling pressure due to profit-taking, and the decline continued until March 2026. However, it still maintains the key support level for the upward trend at EGP 1.55.
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.
