CIB ??? LONG term ChartDOOOOM
LONG term...
support and resistance lines..
horizontal lines are Support/Resistance .
Vertical lines are time pivots .
Appreciate your Comments.
GL
CCCOMMERCIAL INTERNATIONAL BANK-EGYPT (CIB)
98.300EGPD
−1.550−1.55%
At close at 11:28 GMT
EGP
No trades
COMI trade ideas
COMI in rally leading the EGX 30the Commercial International Bank (COMI) is leading the EGX 30 with weight of 26.21% to a historical high points that was not been reached before. We can see from the chart that still having a potential rally after breaking the level of 58. However, the volumes is low and the rally to the uptrend is not as sharp as before. It is moving in an uptrend channel, not that perfect, but giving a close view in the short term.
It is expected to continue in it's direction reaching new levels around 75.
on the other hand, if the stock returned below the 58, it will fall dramatically to the next level around 47.5, and may continue to 40.
According to the economical data and the current situation in the region, specially the war in Gaza, we can not say that or predict the time that we can say that the EGX30 reached it's peak, so I recommend the investors to keep in consideration the risk ratio and distribute the portfolio on several stocks with a suitable risk management.
Why Enter ? COMIWhy did I enter a buy @ 49.13 and why did I put my stop loss @ 47.13
1. On day 19th march the session ended up forming a doji, which is a clear sign that indicates a possible reversal in the trend. The doji forms its own resistance and support areas , which is indicated by its tails. This takes us to the second point,
2. The tail of doji formed a strong support area @47.13, which is the area that brought the price to it real body, this is a clear sign that if it have fallen there again, and broke it then the support was not strong enough to hold the new positive trend.
COMI London CBKDDear Friends,
Correction so far as long as its above 1.592 1.52
even if its going for the Bearish scenario, there is a trade up 1st to Form B >> Expect around 50 - .618% fib
So i am Bullish on Buying for a trade between 1.63 - 1.592 and will watch for the price action there for a confirmation.
On the Chart Fib Channel.
and Price points.
Good luck
Fake BearishTHIS IS NOT A FINANCIAL ADVICE, THIS IS ONLY A PERSONAL OPINION, WOULD LOVE TO HEAR YOURS IN THE COMMENTS
I believe this drop in price is only a correction due to the huge jump from 45 to 47.8. The price broken the trend line and is supposed to have a strong support @ 47.965 and 46.614. The final support before a bearish would be 43.04.
So to conclude i believe that if it continues above 43.04 , this is still a potential bullish sign.
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COMÍ Resistance and Support This is not a financial advice, but only a personal opinion
Since my last prediction and trend analysis was accurate thanks to god first,
I assume since it stabilized over the 50.834 which was the previous resistance, the next resistance will be @ 51.870 and possibly 52.491.
The stronger support is @ 49.382 and @ 47.96
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