Cairo – Mubasher: The stock of the Egyptian International Pharmaceutical Industries Company (EIPICO) is moving in a major upward trend, reflecting a clear improvement in its price performance recently.
This positive movement continues as the price maintains its overall trend without any significant signs of weakness.
Technical indicators signaled by Mubasher Trade Research noted that trading volumes have begun to improve recently. The stock is facing historical resistance around EGP 87.12.
Monday’s session closed positively around EGP 87.35. To confirm this close and target new historical highs, holding above the EGP 87.90 resistance level is likely to target the EGP 90.34-EGP 92.59 area. A break above this level would push the price towards EGP 96.22-EGP 99.95.
Conversely, the secondary support level near EGP 84.40 should be maintained to avoid short-term corrections in the coming period.
Price Action Summary
The price movement during 2026 was characterized by unprecedented historical highs. In January, the stock successfully climbed and reached a historic peak near EGP 87.12.
The stock then quickly came under intense selling pressure, retesting the January support level around EGP 76.30. However, the stock managed to stabilize, forming higher highs and higher lows during March and April, and is now poised to retest its all-time high. This reflects a return of positive momentum and a restoration of short- to medium-term investor confidence.
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.
