Egypt
November 16, 2009
Egypt Traders’ Corner
Prime Research 1
Stock of the day Talaat Moustafa Group Holding (TMGH.
CA)
♦ On the intermediate term, On the intermediate term, the stock is moving along
an up trend line, with the current level at 6.
80...
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Egypt
November 16, 2009
Egypt Traders’ Corner
Prime Research 1
Stock of the day Talaat Moustafa Group Holding (TMGH.
CA)
♦ On the intermediate term, On the intermediate term, the stock is moving along
an up trend line, with the current level at 6.
80 representing the deepest healthy
correction as well as a test to the intermediate up trend line.
A decline below
that level implies that the stock will be correcting the longer rally that started on
end of May, pushing the target downward towards 6.
00 as a first down target.
♦ On the short term, The stock has created a lower high that is still supported by
the level 6.
80 a slight upward bounce may occur, however the bearish breakdown of the level 6.
80 is critical for the resumption of the bullish move that will
change the short term trend of the stock from sideways to downtrend.
♦ Recommendation: Short term traders are advised to reduce on a bounce
towards 7.
10 or 7.
25 and place a stop loss below 6.
80 while intermediate term
inves
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