MHOT (EGX) just confirmed a breakout above a long-standing sideways range near 29.5 EGP, supported by increasing bullish momentum across multiple indicators.
📈 Ichimoku Cloud: Price is clearly above the cloud on both daily and weekly charts — signaling strong trend structure.
💪 MACD + SQZMOM: Both confirm momentum acceleration and possible trend ignition.
📊 Stochastic RSI + RSI: Still have room for upside without being overextended.
🎯 Trade Plan:
Entry 1: 30.50 EGP
Entry 2: 29.40 EGP (support retest)
TP1: 33.00 EGP
TP2: 36.00 EGP
TP3: 39.90 EGP
Stop: 27.70 EGP
⏳ This setup favors swing traders looking to ride a multi-week move toward previous highs, with a risk-reward ratio up to 3.5.
🚨 As always, use proper position sizing and risk management.
📈 Ichimoku Cloud: Price is clearly above the cloud on both daily and weekly charts — signaling strong trend structure.
💪 MACD + SQZMOM: Both confirm momentum acceleration and possible trend ignition.
📊 Stochastic RSI + RSI: Still have room for upside without being overextended.
🎯 Trade Plan:
Entry 1: 30.50 EGP
Entry 2: 29.40 EGP (support retest)
TP1: 33.00 EGP
TP2: 36.00 EGP
TP3: 39.90 EGP
Stop: 27.70 EGP
⏳ This setup favors swing traders looking to ride a multi-week move toward previous highs, with a risk-reward ratio up to 3.5.
🚨 As always, use proper position sizing and risk management.
Trade active
Target 1 Achieved within 1 Day
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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.