Cairo - Mubasher: Telecom Egypt's stock price experienced a sharp correction in February 2026 after reaching an all-time high near EGP 113.
The stock tested the support level at EGP 86.00 multiple times and successfully held it, reflecting the price's adherence to this key support zone.
It commenced Monday’s session with an upward gap, but trading volumes remain low. The price is currently retesting the price gap near EGP 88-87.
Holding above this level confirms the continued upward potential towards EGP 89.95-91.40, and a break above this zone could extend the rally towards EGP 93.
Maintaining the support level at EGP 85.70 is crucial to prevent further declines and preserve a positive short-term outlook.
Technical Analysis
Telecom Egypt's stock has been trading in a clear upward trend since the beginning of 2025.
In January and February, the stock formed strong support between 30.00 and 34.00, then began a gradual rise, forming higher lows and higher highs starting in March, reaching 38.00 in May.
After a period of relative stability during June and July, the price began to climb, with a noticeable improvement in trading volumes in August.
This led to the stock entering a sharp upward trend with a steep angle, indicating the strength and acceleration of the upward movement until February 2026, when it reached a historic high of EGP 113.
This performance reflects a significant improvement in investor confidence, making the stock one of the top-performing stocks of the year.
The stock then experienced a sharp correction due to profit-taking, but the main trend remains upward.
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.
