Cairo - Mubasher: Technical analysis indicates that the stock of ASCOM is trading within a secondary downtrend that began in October of last year.
The stock successfully broke through a secondary downtrend line in the last two trading sessions, accompanied by high trading volumes consistent with the price action, suggesting strong upward buying momentum.
Mubasher Research noted that if the stock breaks through the EGP 45.45 resistance level, it strengthens the chances of a continued rebound towards the EGP 46.52-EGP 47.38 levels, which represent the stock's main resistance.
In case this level is breached, and the buying momentum continues, the EGP 48.92 level is likely to be targeted.
On the downside, holding above the minor support level at EGP 43.86 is critical to sustaining the positive outlook. A drop below this level may renew selling pressure and drive the stock back toward EGP 42.82.
Price Action Summary
At the start of 2026, ASCOM’s stock moved sideways with a slight downward bias, forming a pattern of lower highs and lower lows without breaking major levels, reflecting weak momentum and investor hesitation. Trading remained within a range of around EGP 47.50 as resistance and EGP 37 as support.
By early March, the stock began to show gradual technical improvement, forming higher highs and lower lows alongside rising trading volumes—an early sign of returning buying interest.
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.
