🎯 Idea Overview
EGX:
MEPA
Daily Chart
Current Price: 1.69
Bias: Bullish Neutral (Consolidating above structural support)
🔍 Technical Analysis
Rounded Bottom Structure: The chart shows a prominent macro rounded bottom pattern (dashed cyan line) that bottomed near 1.15 and has recovered constructively.
Trendline Support: Price is currently consolidating down toward a well-defined ascending support line (solid red line labeled "Stop Loss"). The current price of 1.69 sits directly at this confluence zone.
MACD: The blue line remains below the orange signal line following the pullback from 1.84, but bearish momentum is beginning to flatten.
RSI (14): Currently at 51.67. It is holding above the neutral 50 line and respecting a clear ascending support trendline (solid red line), confirming underlying strength.
🛠️ Trade Setup
Entry Zone: 1.65 – 1.70 (Near dynamic trendline support)
Target 1: 1.84 (Recent swing high)
Target 2: 1.97 – 2.02 (Prior structural peaks)
Stop-Loss: 1.58 (Daily close below the red trendline)
EGX:
MEPA Daily Chart
Current Price: 1.69
Bias: Bullish Neutral (Consolidating above structural support)
🔍 Technical Analysis
Rounded Bottom Structure: The chart shows a prominent macro rounded bottom pattern (dashed cyan line) that bottomed near 1.15 and has recovered constructively.
Trendline Support: Price is currently consolidating down toward a well-defined ascending support line (solid red line labeled "Stop Loss"). The current price of 1.69 sits directly at this confluence zone.
MACD: The blue line remains below the orange signal line following the pullback from 1.84, but bearish momentum is beginning to flatten.
RSI (14): Currently at 51.67. It is holding above the neutral 50 line and respecting a clear ascending support trendline (solid red line), confirming underlying strength.
🛠️ Trade Setup
Entry Zone: 1.65 – 1.70 (Near dynamic trendline support)
Target 1: 1.84 (Recent swing high)
Target 2: 1.97 – 2.02 (Prior structural peaks)
Stop-Loss: 1.58 (Daily close below the red trendline)
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.
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.