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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כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.