Cairo - Mubasher: The weakly chary of Orascom Development Egypt’s stock shows a successful breakout attempt from a downtrend that has been ongoing for several months.

This was supported by a weekly close above approximately EGP 23, which is a positive initial sign of a possible resumption of the main uptrend.

Technical indicators support this scenario, with the MACD indicator showing an improvement and a positive crossover, the first time the stock has crossed since 2024.

Meanwhile, the RSI is above its moving average at 53, while the short-term moving average is trending upwards.

Continued trading above EGP 22.50 maintains the positive outlook, with potential targets at EGP 25.50 and then EGP 27.00, provided the aforementioned support remains intact.

The chart shows the stock undergoing a correction that has lasted for two quarters of the current year, and this movement ended with an upward breakout, reinforcing the positive outlook in the medium term.

Price Movement Summary

Since the beginning of 2025, the stock has entered a phase of sideways fluctuations following a strong upward trend that began at levels close to EGP 14.00 and reached a peak near EGP 27.00.

During the current year, the stock was unable to maintain its upward momentum and began a corrective wave that led to a decline below EGP 19.00-20.00, a key support area.

Recently, it has started a limited upward rebound, but the movement is still relatively weak in terms of momentum, and it needs to hold above EGP 23.00 to confirm the return of the uptrend.

Company Overview

Orascom Development Egypt is one of the leading real estate and tourism development companies in the Egyptian market, operating under the umbrella of Orascom Development Holding - Switzerland.

The company's activities focus on developing integrated communities that include residential, tourism, and commercial projects, supporting its vision of achieving sustainable urban development that contributes to strengthening the local economy.

It also has regional investments in Jordan and Oman, reflecting its geographical expansion and diversified revenue sources. Its stock is a constituent of the EGX30 index, with a relative weight of 1.05% and a market cap of nearly EGP 24.1 billion, making it one of the leading companies in the real estate sector on the EGX.

Disclaimer:

This analysis is based on technical analysis tools and reflects a comprehensive analytical view that may vary depending on interpretation methods.

It does not constitute a direct recommendation to buy or sell, nor an invitation to make investment decisions. This is intended solely for monitoring and study purposes. Investment decisions are the sole responsibility of the investor, based on their financial situation and investment goals.