Cairo – Mubasher: Technical analysis indicates that Telecom Egypt’s stock is trading near EGP 51, moving sideways and tending towards stability after a previous upward surge.
The stock faces significant resistance at EGP 52, and a daily close above this level, accompanied by a noticeable increase in trading volume, would signal a resumption of the positive trend.
Mubasher Research revealed that the EGP 48.00 level remains a key short-term support level, and a break below it would signal weakness and could lead to deeper corrective ranges.
From a technical perspective, the Relative Strength Index (RSI) is holding steady in the middle range near 55, reflecting neutral momentum without overbought signals.
The stock continues to trade above its 50-day moving average, supporting the continuation of the medium-term trend within a relatively positive range, while the 200-day moving average remains further away and currently has less influence on price action.
On the other hand, the MACD indicator shows convergence between its lines, suggesting that the market is awaiting a clearer directional move in the coming sessions.
Mubasher Research indicated that, overall, the technical outlook remains neutral with a slight positive bias, awaiting a price breakout from the current trading range. If the price breaks out upwards, the stock targets levels of 55.00 and 57.00.
Price Action Summary
The company’s shares have been trading in a clear upward trend since the beginning of 2025. In January and February, the stock formed strong support between EGP 30 and EGP 34, then began a gradual rise, forming higher lows and higher highs starting in March, reaching EGP 38.00 in May.
After a period of relative stability during June and July, the stock began trading above an adjusted upward trend line since August, surpassing EGP 50 and reaching a high of around EGP 52, before settling at EGP 49.80 at the beginning of October.
This performance reflects a significant improvement in investor confidence, making the stock one of the top performing stocks of the year.
About Telecom Egypt
Telecom Egypt is one of the largest national companies and the oldest telecommunications service providers in Egypt and the Middle East. It has a strong presence in fixed-line communications, fixed internet, and digital infrastructure, in addition to its significant stake in Vodafone Egypt.
Telecom Egypt's stock is a leading stock within the EGX30 index, with a relative weight of 4.35% and a market cap of approximately EGP 81.6 billion.
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.
