Ascm Important Levels

3 ביולי 2024

Hello Dear Traders,
- Important Levels
On the Chart "Horizontal Lines" Based on Gann Square of 9
Works as Support/Resistance. Watch for Price action around those levels
- Jinny Gann Grid
- Vertical lines works as time lines. Expect Reversal around them.
For Today
Support : 38.38 - 38.75
Resistance :40.85 Then 43.047
Wish you Good Luck Trading.

לפני 7 ימים

עסקה פעילה

Price Double bottomed at 32

🟡 Key Observations:
1️⃣ Price Testing 390° Level (~32.78 EGP)

The stock is hovering near this support level.
If it holds, we could see a bounce back towards 34.72 EGP (360° level).
If it breaks down, the next major support is at 30.89 EGP (420° level), marked with a yellow star.
2️⃣ Strong Support at 30.89 EGP

This is a key level to watch.
If the price reaches it, a potential reversal could happen.
3️⃣ Resistance at 34.72 EGP (360° Level)

A breakout above could trigger a move to 36.71 EGP (330° level) or even 38.76 EGP (300° level).
4️⃣ RSI Shows Weak Momentum

Current RSI: 42.99, below neutral (50), meaning bearish momentum is still dominant.
RSI-based MA: 31.11, indicating potential oversold conditions.
Recent "Bear" and "Bull" signals suggest RSI is in a consolidation phase.
📊 Possible Scenarios:
🔹 Bullish Case:

If the price holds 32.78 EGP, expect a retest of 34.72 EGP (resistance).
Breaking 34.72 EGP could trigger a move to 36.71 EGP or higher.
🔻 Bearish Case:

A break below 32.78 EGP could lead to 30.89 EGP, a major support zone.
If 30.89 EGP fails, further downside could follow.
💡 Conclusion:
The stock is at a critical Gann level. Traders should watch 32.78 EGP closely. If it holds, there’s room for upside. If it breaks, 30.89 EGP will be the next target.

🚀 What’s your plan? Are you watching for a bounce or waiting for a breakdown?