Cairo - Mubasher: Technical analysis indicates that the stock of EFG Holding has maintained its upward price channel since mid-2022, preserving its long-term positive trend.
The stock recently climbed after rebounding from the upward trend line in August, around the EGP 23.00 level.
Based on Mubasher Research data, the stock climbed to a peak around EGP 30.00 before beginning to decline. However, it retreated again before reaching the upper limit of the price channel.
This decline coincided with the recent market correction, and the stock's inability to reach the upper channel is a sign of weakness and a slowdown in buying pressure.
While the stock remains above the upward trend line, it is not yet certain that the trend has ended.
Last week, prices experienced a significant decline over four trading sessions, interspersed with a slight rise. The stock is expected to test the upward trend line soon, and if it falls below it, partial profit-taking is advisable.
Price Action Summary
EFG Holding's stock experienced a strong upward trend at the beginning of 2025, which continued for approximately two quarters of the year, with the price moving from levels close to 19.00.
This positive momentum continued with short pauses and minor corrections, after which the stock broke through key resistance levels, reaching its highest point at the end of May, recording a price peak of around EGP 32.00.
Subsequently, the stock experienced a sharp and rapid decline during June and July, losing a third of its market value before rebounding to resume its main upward trend.
At this point, the stock encountered the 30.00 level, after which it experienced another downward correction.
About EFG Holding
EFG Holding is one of the largest integrated financial institutions in Egypt and the region, with extensive experience in non-banking financial services, direct investment, asset management, and securities brokerage.
The group operates through its network of subsidiaries spread across Egypt, the UAE, Saudi Arabia, Bahrain, Lebanon, and the US, giving it a strong regional and international presence and the ability to offer diverse financial and investment solutions to a broad client base.
Its market cap stands at EGP 39.1 billion, with 1.46 billion shares outstanding, representing a 5.14% weighting in the EGX30 index. This makes it a leading stock with a significant impact on the performance of the Egyptian Exchange's main index.
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.
