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. 🧘♂️
If you like my posts, please follow and boost 🙌
🎁 Get a $15 discount on your next subscription:
🔗 tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸
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 ✨💸
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.