#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
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
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