📊 AJWA: Weak Retest Raises the Risk of a Deeper Pullback ⚠️
🔍 The Pulse:
AJWA initially broke above the important 38.2% Fibonacci resistance at 173 EGP and confirmed the breakout. 📈
The stock then retested this level but failed to attract buyers, with noticeably weak trading volume. 📉
This failed retest increases the probability that a double-top pattern is developing. ⚠️
If the pattern is confirmed, the expected downside target becomes the bullish Fair Value Gap near the 61.8% Fibonacci level around 155 EGP. 🎯
To invalidate this bearish scenario, I want to see average daily liquidity exceeding 15M EGP together with a confirmed close back above 173 EGP. 🚀
Until then, I remain cautious and prefer to wait for stronger confirmation before considering any bullish outlook. 🛡️
🧱 The Key Structural Boundaries
📍 Key Resistance, 173 EGP.
A confirmed close above this level with strong liquidity would restore the bullish structure.
🚀 Bullish Confirmation.
Average daily liquidity above 15M EGP together with a sustained close above 173 EGP.
🎯 Bearish Target, 155 EGP.
The bullish Fair Value Gap aligned with the 61.8% Fibonacci retracement.
⚠️ Current Risk.
The failed retest and weak volume significantly increase the probability of a confirmed double-top pattern.
🎯 The Verdict:
AJWA currently presents a weak technical setup despite breaking a major resistance previously. ⚠️
The failed retest and low trading volume favor a cautious approach rather than chasing the price. 📉
A confirmed breakout above 173 EGP with stronger liquidity would invalidate the bearish outlook. 🚀
Until then, preserving capital and waiting for confirmation remains the higher-probability strategy. 🛡️
---
If you like my insights, follow and boost! 🙌💙🚀
🎁 $15 TradingView Discount:
tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸🤑
🔍 The Pulse:
AJWA initially broke above the important 38.2% Fibonacci resistance at 173 EGP and confirmed the breakout. 📈
The stock then retested this level but failed to attract buyers, with noticeably weak trading volume. 📉
This failed retest increases the probability that a double-top pattern is developing. ⚠️
If the pattern is confirmed, the expected downside target becomes the bullish Fair Value Gap near the 61.8% Fibonacci level around 155 EGP. 🎯
To invalidate this bearish scenario, I want to see average daily liquidity exceeding 15M EGP together with a confirmed close back above 173 EGP. 🚀
Until then, I remain cautious and prefer to wait for stronger confirmation before considering any bullish outlook. 🛡️
🧱 The Key Structural Boundaries
📍 Key Resistance, 173 EGP.
A confirmed close above this level with strong liquidity would restore the bullish structure.
🚀 Bullish Confirmation.
Average daily liquidity above 15M EGP together with a sustained close above 173 EGP.
🎯 Bearish Target, 155 EGP.
The bullish Fair Value Gap aligned with the 61.8% Fibonacci retracement.
⚠️ Current Risk.
The failed retest and weak volume significantly increase the probability of a confirmed double-top pattern.
🎯 The Verdict:
AJWA currently presents a weak technical setup despite breaking a major resistance previously. ⚠️
The failed retest and low trading volume favor a cautious approach rather than chasing the price. 📉
A confirmed breakout above 173 EGP with stronger liquidity would invalidate the bearish outlook. 🚀
Until then, preserving capital and waiting for confirmation remains the higher-probability strategy. 🛡️
---
If you like my insights, follow and boost! 🙌💙🚀
🎁 $15 TradingView Discount:
tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸🤑
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.