Cairo – Mubasher: Technical analysis indicated Ismailia Misr Poultry’s shares are currently trading below a key resistance level near EGP 14.10.
The stock witnessed a strong rise at the start of Wednesday’s session, backed by high trading volumes, to test this level, which represents a crucial test wall and a psychological barrier for traders.
Mubasher Research indicated a successful break above this level with a four-hour candle close accompanied by strong trading volume could pave the way for a move towards the EGP 14.37-EGP 14.56 range.
A break above this level would support the chances of continued upward movement toward higher levels near EGP 14.80–15.25.
The EGP 13.55 level represents the main support line for the current upward movement, and trading below this level could increase the likelihood of a correction to lower levels.
Price Action Summary
The company’s stock began trading in 2025 within a sideways range, fluctuating between support at EGP 7.80 and resistance at EGP 11.15 during the first half (H1) of 2026.
At the beginning of July, the stock successfully climbed, accompanied by a series of rising highs and lows, continuing its upward trend until February 2026, when the price reached EGP 16.45, achieving gains of nearly 100%.
Following this, the stock experienced some corrections that led to a break below a significant support level at EGP 14.10.
The price then began attempting to retest this broken support level multiple times to regain buying momentum in the short and medium terms. A break above or a bounce from this level will be a crucial indicator of the strength of the upward movement in the coming period.
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.
