Etel - Telecom Egypt (TE/EGX) Analysis Using Gann Techniques
This chart represents a detailed application of Gann’s methods on Telecom Egypt’s (TE) stock, providing insights into price action, support/resistance levels, and trend analysis.
Key Observations:
Gann Levels: Horizontal levels represent important price zones derived from Gann’s methodology. These levels act as significant support or resistance:
Current price is hovering near the 540° level (~32.72 EGP), which has shown resistance in recent sessions.
Below it, the 503.99° (~30.47 EGP) acts as the next major support.
Above, 574° (~35.04 EGP) represents a potential resistance zone for the next upward move.
Trend Channels:
Yellow Line: Represents a long-term ascending support line, indicating the stock’s sustained bullish trajectory over time.
Pink Line: A steeper resistance line that marks higher price rejections in the recent bullish wave.
Gann Angles: The grid formed by the diagonal lines provides a framework for understanding the balance between time and price. The stock has been respecting these lines, suggesting the relevance of the Gann grid in its price behavior.
Time Cycles:
Vertical purple lines indicate potential time-based pivot points, where price action might experience reversals or accelerations.
The stock is approaching a critical time zone where significant movement may occur.
Strategy and Outlook:
If the price holds above the 540° level (~32.72 EGP), we could see an attempt to break through 574° (~35.04 EGP).
A failure to hold the 540° level could result in a retest of the 503.99° (~30.47 EGP) support.
Long-term investors should monitor the yellow ascending trendline for a broader perspective on sustained bullish momentum.
This analysis, based on Gann's techniques, highlights the importance of geometric levels, angles, and time cycles to forecast potential price movements. Keep an eye on the interplay of these factors as the stock moves forward.
Key Observations:
Gann Levels: Horizontal levels represent important price zones derived from Gann’s methodology. These levels act as significant support or resistance:
Current price is hovering near the 540° level (~32.72 EGP), which has shown resistance in recent sessions.
Below it, the 503.99° (~30.47 EGP) acts as the next major support.
Above, 574° (~35.04 EGP) represents a potential resistance zone for the next upward move.
Trend Channels:
Yellow Line: Represents a long-term ascending support line, indicating the stock’s sustained bullish trajectory over time.
Pink Line: A steeper resistance line that marks higher price rejections in the recent bullish wave.
Gann Angles: The grid formed by the diagonal lines provides a framework for understanding the balance between time and price. The stock has been respecting these lines, suggesting the relevance of the Gann grid in its price behavior.
Time Cycles:
Vertical purple lines indicate potential time-based pivot points, where price action might experience reversals or accelerations.
The stock is approaching a critical time zone where significant movement may occur.
Strategy and Outlook:
If the price holds above the 540° level (~32.72 EGP), we could see an attempt to break through 574° (~35.04 EGP).
A failure to hold the 540° level could result in a retest of the 503.99° (~30.47 EGP) support.
Long-term investors should monitor the yellow ascending trendline for a broader perspective on sustained bullish momentum.
This analysis, based on Gann's techniques, highlights the importance of geometric levels, angles, and time cycles to forecast potential price movements. Keep an eye on the interplay of these factors as the stock moves forward.
Time is more important than price. When time is up price will reverse." – W. D.
Penafian
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