📊 BELTON: Bears Remain Firmly in Control ⚠️
🔍 The Pulse:
BELTON continues to trade in a well established downtrend that has lasted for nearly a year. 📉
There are still no meaningful signs of a bullish reversal. ⚠️
Three triangle patterns define the short, medium, and long term structure of the stock. 📐
The smallest triangle has already broken to the downside, confirming continued selling pressure. 🔻
The next key support sits at 2.91 EGP, where the medium and long term triangle support lines converge. 🎯
Below that, the 2.83 EGP order block is the final major support before the downtrend could accelerate into a parabolic decline. 🚨
🧱 The Key Structural Boundaries
🛡️ First Support, 2.91 EGP.
The convergence of the medium and long term triangle support lines.
🛡️ Major Support, 2.83 EGP.
The order block that triggered the previous rebound.
🚀 Bullish Confirmation, 3.08 EGP.
A close above the main support and the 200 day moving average is the first positive signal.
🔴 Stop Loss, 2.83 EGP.
A break below the order block invalidates the setup and signals a much stronger bearish trend.
🎯 The Verdict
The technical outlook remains decisively bearish.
Avoid new positions until price reclaims 3.08 EGP.
If you already hold the stock, use a break below 2.83 EGP as your stop loss.
Patience remains the highest probability strategy.
---
If you like my insights, follow and boost! 🙌💙🚀
🎁 $15 TradingView Discount:
🔗 tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸🤑
🔍 The Pulse:
BELTON continues to trade in a well established downtrend that has lasted for nearly a year. 📉
There are still no meaningful signs of a bullish reversal. ⚠️
Three triangle patterns define the short, medium, and long term structure of the stock. 📐
The smallest triangle has already broken to the downside, confirming continued selling pressure. 🔻
The next key support sits at 2.91 EGP, where the medium and long term triangle support lines converge. 🎯
Below that, the 2.83 EGP order block is the final major support before the downtrend could accelerate into a parabolic decline. 🚨
🧱 The Key Structural Boundaries
🛡️ First Support, 2.91 EGP.
The convergence of the medium and long term triangle support lines.
🛡️ Major Support, 2.83 EGP.
The order block that triggered the previous rebound.
🚀 Bullish Confirmation, 3.08 EGP.
A close above the main support and the 200 day moving average is the first positive signal.
🔴 Stop Loss, 2.83 EGP.
A break below the order block invalidates the setup and signals a much stronger bearish trend.
🎯 The Verdict
The technical outlook remains decisively bearish.
Avoid new positions until price reclaims 3.08 EGP.
If you already hold the stock, use a break below 2.83 EGP as your stop loss.
Patience remains the highest probability strategy.
---
If you like my insights, follow and boost! 🙌💙🚀
🎁 $15 TradingView Discount:
🔗 tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸🤑
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.