📈 MFPC Technical Outlook
Since January 2024, MFPC has been trading within a clear downtrend. However, the stock has recently broken out of this downward channel. A confirmed breakout above the horizontal resistance aligned with EMA200 "29.2" would serve as a strong bullish signal and present a potential buying opportunity.
🔹 Suggested Buy Zone: EGP 29.20 – EGP 29.50
🔹 Targets:
-TP1: EGP 31.50 (Short Term)
-TP2: EGP 33.70 (Short Term)
-TP3: EGP 35.50 (Medium Term)
-TP4: EGP 39.60 (Long Term)
🔸 Stop Loss: EGP 29.15 (to be placed after confirmation of breakout above 29.20)
A trailing stop loss is recommended to protect gains as the stock progresses.
Since January 2024, MFPC has been trading within a clear downtrend. However, the stock has recently broken out of this downward channel. A confirmed breakout above the horizontal resistance aligned with EMA200 "29.2" would serve as a strong bullish signal and present a potential buying opportunity.
🔹 Suggested Buy Zone: EGP 29.20 – EGP 29.50
🔹 Targets:
-TP1: EGP 31.50 (Short Term)
-TP2: EGP 33.70 (Short Term)
-TP3: EGP 35.50 (Medium Term)
-TP4: EGP 39.60 (Long Term)
🔸 Stop Loss: EGP 29.15 (to be placed after confirmation of breakout above 29.20)
A trailing stop loss is recommended to protect gains as the stock progresses.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.