Sidpec stock continues wide range sideways trend – Analysis — TradingView News
Staff Writer
Cairo: Technical movements signaled by Mubasher Trade Research indicate that the stock of Sidi Kerir Petrochemicals Company (Sidpec) continued its wide-range sideways trend between the EGP 18.70 support level and the EGP 19.95 resistance.
Meanwhile, the technical indicators suggest weakness in purchasing power during the current period, as the Relative Strength Index (RSI) is moving below the neutral level, reflecting a decline in buying momentum.
Mubasher Trade Research noted that the price is currently testing the moving average, which acts as a dynamic resistance for the price.
Sidpec stock price is currently approaching a gap and an important demand zone at EGP 19.20 and EGP 19.15, which may represent a reduction in selling…
