Cairo – Mubasher: The stock of Electro Cable Egypt has been witnessing severe selling pressure in the past sessions, which lead to breaking through the sideways range, according to technical movements signaled by Mubasher Trade Research.
The stock recently tested an important demand area near the EGP 2.25 level and succeeded in maintaining the level and closing above it, which makes it likely for a rebound to the resistance at the EGP 2.40 level while exceeding this level supports the chances of rising towards the EGP 2.50 level.
Mubasher Trade Research noted that the EGP 2.40 to EGP 2.50 level currently represents the critical test wall, as it constitutes both a technical resistance and a psychological barrier for traders at the same time.
It added that the success of the price in breaking through this level in a confirmed and stable manner, accompanied by strong trading volumes, could pave the way to target the EGP 2.59 level.
Meanwhile, remaining below the EGP 2.18 level weakens the chances of a rebound and supports the likelihood of continuing the decline toward the EGP 2.11 level.
Price Movement Summary
In 2025, Electro Cable Egypt started the year with a strong decline, as the price dropped from EGP 2.85 to the EGP 2.40 level.
Starting from February, the price entered a wide-ranging sideways phase and an accumulation period without breaking through important levels until December.
Important note: This analysis relies solely on the foundations and tools of technical analysis and reflects a purely analytical perspective that may vary depending on the methods of interpretation and assessment. What is stated in this report is not considered a direct recommendation to buy or sell, nor an invitation to make any investment decisions; it is for monitoring and study purposes only. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.
