AMOC long update

The stock was in a strong downtrend, but it seems to be reversing to the upside.

On the bright side, or the bullish side, the price has started making higher highs and higher lows, which could be a good sign if we consider this recent downtrend a pullback within a larger uptrend.

On the bearish side, this is a very risky trade, as bears could put pressure on the price and drive it lower to sweep the liquidity below 6.4 EGP. Also, I haven't been following the news lately, but it seems there was some negative news that drove most Egyptian stocks lower. I’m not exactly sure what the news was or how long its impact will last.

To sum it up, if you have the patience, wait for the stock to reach 6.1 to 6.3 EGP before going long. Otherwise, you can enter long now, but keep your stop-loss tight, as identified.

DYOR and read the news to understand what caused the stock market to decline and what the expectations are for the general financial situation in the coming period.