ASCM trade ideas
EGX:ASCM Long Call ... EGX:ASCM
For fellow traders evaluating a long position, here’s the reasoning behind the setup:
Falling wedge breakout: The price has successfully broken out of a falling wedge, a bullish reversal pattern. Additionally, the breakout level has been retested, confirming it as a solid support zone.
88% retracement: The asset has retraced 88% from its recent bottom, aligning with typical wave 2 behavior in a larger motive wave. This deep pullback strengthens the likelihood of an upcoming impulsive move.
RSI confirmation: The Relative Strength Index (RSI) is forming higher lows, indicating weakening bearish momentum and increasing buying pressure.
Monitoring volume and key resistance levels could help refine the entry strategy. Let me know if you’d like to expand on any specific details! EGX:ASCM
Golden Area Here’s an idea you can publish on TradingView based on the provided chart:
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🚀 **Potential Trend Reversal & Fibonacci Golden Ratio Retest!** 🚀
We're approaching a key turning point in the market! 📉➡️📈
🔹 **Descending Wedge Breakout Incoming?**
The price has been consolidating within a descending wedge pattern, typically a strong bullish reversal signal. A breakout from this structure could indicate the beginning of a new impulsive move.
🔹 **Golden Ratio Confluence (0.618 - 0.705 Fibonacci Levels)**
The price is heading toward the **golden ratio zone (0.618 - 0.705 Fib retracement)**, a historically significant level for reversals. Buyers might step in, leading to a strong bullish push.
🔹 **Elliott Wave Structure in Play**
We're potentially forming the **(1)-(2)-(3)-(4)-(5) wave count**, with wave (2) likely completing near the golden ratio before the next impulsive leg (3) to the upside.
🔹 **Potential Targets 🎯**
If we confirm the breakout, our **first major resistance** lies around the **0.5 Fibonacci level (~36.96)**, followed by the **0.382 Fib (~43.06)**. Beyond that, wave (5) could aim even higher!
🔹 **Bullish Divergence on the MACD & RSI**
Momentum indicators are showing signs of reversal, further supporting the potential bullish scenario.
🚨 **What to Watch For:**
✔️ A clear breakout above resistance for confirmation
✔️ Volume increase to support the move
✔️ Retest of broken trendline as support
🔄 If the golden ratio doesn’t hold, deeper retracements to 0.79 Fib (~22.08) remain possible, but for now, bulls seem to be preparing for action!
What do you think? 🚀 Are we ready for the next leg up? Let me know in the comments! 👇
#Crypto #Trading #ElliottWave #Fibonacci #TrendReversal #PriceAction #TechnicalAnalysis
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Let me know if you'd like any adjustments! 🚀📊its not financial advice
#ASCM - Egyptian stock - great opportunity, high financial risk#ASCM time frame 1 DAY
Note : before technical analysis the financial position of the company isn't in the best condition , there isn't any cash flows from operations activity , in anther hand the company work in MINING so that may cost the company lot of expenses and time before achieving any Mining discovery .
We have here a great Gartley Bullish pattern with 2 positive diversions at MACD and RSI in addition the prices in critical point ( stop loss of the pattern ) so :
Entry level at 34.00 ( price now is 32.85 ) so we can wait to close daily over 34.00 or start from this point ( consult your account manager )
Stop loss 32.70 ( estimated loss -4% ) or estimated loss from this point is 0.50 %
First target at 37.50 ( estimated profit around 14% )
Second target 40.70 ( estimated profit around 23% )
Third target 42.70 ( estimated profit 30% )
NOTE : this data according to time frame I DAY , it`s may take period up to 3 months to achieve targets , you must study well the Alternative opportunities before invest in this stock .
Its not an advice for investing only my vision according to the data on chart
Please consult your account manager before investing
Thanks and good luck
#ASCM - Egyptian stock / 1 hour#ASCM time frame 1 hour
Created 2 Bullish pattern ( Gartley and AB=CD ) ,
Entry level around 32.10
Stop loss 31.50 ( estimated loss -2% )
First target at 34.10 ( estimated profit around 6% )
Second target 35.50( estimated profit around 10% )
Third target 36.30 ( estimated profit 13% )
Its not an advice for investing only my vision according to the data on chart
Please consult your account manager before investing
Thanks and good luck
Ascm Important LevelsHello 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.
Asek Mining to target 75 then 94 - long termWeekly chart, the stock EGX:ASCM is trying to beat the resistance line R1 in the long pennant pattern.
Technical indicators MACD and RSI are positively signalling a formation of an uptrend.
Stabilizing above 45 for 2 weeks, the price should target 75 extendable to 94, a s a long term target.
Note the stop loss and profit protection levels - Raise as the price goes up!
GET READY FOR ASCOMHuge profit announcement today published by ASCOM, +2.2 Billion revenue increase in just 3 quarters, i think also because of the latest gold Mine sell this huge pop in share prise went up.
Share went up again Above the 51 pounds, expected Targets
T1: 75
T2: 102
If the above are broken and price still breaking new ATH
T3: 202
Lets see:)
Good Luck
