Cairo – Mubasher: The stock of Extracted Oils continued its positive performance after breaking through the EGP 9.33 resistance level. The stock continued its upward trend, accompanied by high trading volumes, bringing it closer to its all-time highs.
Technical analysis indicated that the stock is facing a significant technical level near EGP 9.85. A close above this level could support further gains towards the EGP 10.08-EGP 10.32 range, which represents the stock's all-time resistance.
Mubasher Research highlighted that breaking through this range could push the price towards the EGP 10.58-EGP 10.98 range.
Maintaining a break above EGP 9.51 is crucial for maintaining the positive outlook and avoiding short-term corrections towards lower levels near EGP 9.22.
Price Action Summary
After reaching its all-time high in December near EGP 10.32, the extracted oils stock experienced a deep corrective wave during January and February of 2026, retreating to test the support level at EGP 6.12.
Following this, the stock successfully rebounded from these levels, forming higher highs and higher lows that reflect a gradual improvement in performance. It also managed to break through a secondary resistance level near EGP 8.60, which reinforced the continuation of the upward movement.
This improvement propelled the stock to continue its ascent and approach its all-time high once again, indicating a return of positive momentum.
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.
