Cairo – Mubasher: Technical movements signaled by Mubasher Trade Research indicate that the stock of Egyptian Iron and Steel Company (Hadisolb) is witnessing an upward trend on the four-hour timeframe, supported by trading above the moving average, which reinforces the strength of the current upward trend.

The stock price, meanwhile, has seen a significant increase during the previous sessions.

Technically, the stock is currently moving within an upward wave targeting an initial level of EGP 6.98.

If the price successfully confirms the breakthrough of this level and stabilizes above it based on Fibonacci ratios, this will enhance the chances of extending the rise toward the next level at the EGP 7.15 and EGP 7.20 zone, where the price would face some selling pressure that may lead to a temporary technical correction.

However, if the stock succeeds in breaking through these levels, it will reinforce targeting a potential new peak. Mubasher Trade Research emphasizes that it is important to maintain support at EGP 6.35 to prevent any medium-term declines.

Summary of Price Movement

The Hadisolb stock started 2025 with a notable increase during the first quarter (Q1), as the stock began trading at EGP 3.80 and rose to EGP 6.50.

Starting from April, the stock witnessed some corrections until June, and from July, a positive price behavior began to emerge with the formation of higher lows and an increase in trading volumes, forming a historic peak at EGP 7.25 in October.

Important note: This analysis relies solely on the foundations and tools of technical analysis, reflecting a purely analytical perspective that may vary depending on the methods of interpretation and assessment. What is stated in this report should not be considered a direct recommendation to buy or sell, or an invitation to make any investment decisions; rather, it is for monitoring and study purposes. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.