📊 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.
---
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🔍 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 ✨💸🤑
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.