Cairo – Mubasher: The current technical movement signaled by Mubasher Trade Research indicate that the stock of Misr National Steel (Ataqa) is experiencing a downward trend, but the price has recently succeeded in forming an uptrend structure with higher highs and higher lows.

The price has also broken through the moving average and stabilized above it, and the Relative Strength Index (RSI) is moving above the neutral level, which supports the positive outlook.

Mubasher Trade Research indicated that the price is approaching an important resistance at EGP 10.10, and to strengthen the current trend and return to positivity in the short term, the price needs to stabilize above the resistance with an increase in trading volumes. This will enhance the chances of extending rising toward the next level at EGP 10.35. Moreover, if the price succeeds in surpassing this level, it will likely extend the upward movement to EGP 10.55 that will be followed by the EGP 10.75 level.

It is important to maintain the secondary support level at EGP 9.45 to prevent any medium-term declines.

Price Movement Summary

Ataqa stock started 2025 with a notable rise during January, and starting from February, the stock witnessed positive price behavior with an increase in trading volumes.

In June, the stock entered a major upward trend, achieving a historic peak at EGP 12.40, which was followed by entering a sideways range that lasted from July to December.

Important Note: This analysis is based solely on the foundations and tools of technical analysis, and reflects a purely analytical perspective that may vary depending on the methods of reading and interpretation. What is stated in this report should not be considered a direct recommendation to buy or sell, nor an invitation to make any investment decisions; it is for monitoring and study purposes only. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.