EGAS Technical Exhaustion 📉
I am tracking Egypt Gas (EGAS) as it reaches a critical inflection point.
Following its strong breakout, the technicals now signal a period of caution:
Target Achieved: After breaking the ascending triangle, the price has hit the pattern’s measured target and is currently trading above my Fair Value estimate. 🎯
Volume Exhaustion: Daily volume is decreasing, indicating the "fuel" for this bullish wave is drying up.
While still high relative to historical averages, the downward trend in activity suggests buyer fatigue. ⛽️
Dividend Impact: With the dividend payment scheduled for tomorrow, I expect the usual price adjustment to coincide with this technical softness, likely ending the current bullish wave. 🔔
My View: The "easy money" phase of this move is over.
With targets hit and volume thinning, the stock is entering a high-risk zone.
I am looking for a healthy pullback before reassessing. 🧘♂️
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I am tracking Egypt Gas (EGAS) as it reaches a critical inflection point.
Following its strong breakout, the technicals now signal a period of caution:
Target Achieved: After breaking the ascending triangle, the price has hit the pattern’s measured target and is currently trading above my Fair Value estimate. 🎯
Volume Exhaustion: Daily volume is decreasing, indicating the "fuel" for this bullish wave is drying up.
While still high relative to historical averages, the downward trend in activity suggests buyer fatigue. ⛽️
Dividend Impact: With the dividend payment scheduled for tomorrow, I expect the usual price adjustment to coincide with this technical softness, likely ending the current bullish wave. 🔔
My View: The "easy money" phase of this move is over.
With targets hit and volume thinning, the stock is entering a high-risk zone.
I am looking for a healthy pullback before reassessing. 🧘♂️
If you like my posts, please follow and boost 🙌
🎁 Get a $15 discount on your next subscription:
🔗 tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.