Cairo - Mubasher: The stock of GB Corp indicates a major upward trend, with the stock reaching a new all-time high near EGP 31.75 in today's session.
Mubasher Research indicated that the price is approaching a key resistance level around EGP 32.00, based on Fibonacci retracement ratios. A slowdown in buying pressure is possible if the price closes below this level.
The Relative Strength Index (RSI) is near overbought territory with negative divergence, suggesting a potential short-term easing of buying momentum.
A close above this resistance level would likely extend the upward movement to EGP 33.90-EGP 34.00, followed by EGP 36.50-EGP 37.00.
In the event of a correction, the nearest support level would be around EGP 28.00. Holding above this support zone is crucial to strengthening the chances of reaching the aforementioned levels and continuing the upward trend.
Price Action Summary
The company’s stock entered 2025 with a notable decline in January. Starting in February, the price managed to rise with a significant increase in trading volumes, and the stock successfully formed an upward trend until January 2026, achieving a new historical high near 31.75 Egyptian pounds.
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.
