TMGH Rebound Expctation

TMG Holding trend has reached its downward zone at the support line 51.142. In case of a rise, it is expected to breach the resistance line 51.233 and reach the resistance line at 51.625 points, then reach the third resistance line at 51.777 points. This upward direction is expected due to TMGH signs MoU For Development of New Large-Scale Mixed-Use Project In Iraq, which is expected to generate total sales of $17 Billion, and income of $1.5 Billion per annum upon project completion. In case of falling, it's expected to break the 1st support line at 50.961 points, then the second support line at 50.900, then the third line at 50.779.