Cairo - Mubasher: The stock of Maridive & Oil Services successfully rebounded from key support at EGP 0.38, accompanied by high trading volumes, after a sharp correction following the previous upward wave. The correction level exceeded the 61.8% Fibonacci retracement.
Mubasher Research indicated that surpassing the EGP 0.45 level is a positive signal targeting the main peak toward EGP 0.46.
A break above this level would push the price toward EGP 0.467-EGP 0.48. However, the EGP 0.438 level must be maintained to avoid further declines.
The Relative Strength Index (RSI) is moving above the neutral level, indicating the strength of the current upward movement.
The price trading above the main moving average reinforces the chances of continued upward momentum.
Price Action Summary
Maridive's stock has experienced a sharp decline since the beginning of 2025, with the price dropping from EGP 0.377 to EGP 0.24 during the first quarter of the year.
At the beginning of April, the stock successfully established a price base supported by high trading volumes, with a series of rising peaks and troughs, initiating a secondary upward trend that continued until December, reaching a level of EGP 0.51.
At the beginning of 2026, the stock came under selling pressure, but it maintained its upward trend.
Disclaimer:
This analysis is based on technical analysis tools and reflects a comprehensive analytical view that may vary depending on interpretation methods.
It does not constitute a direct recommendation to buy or sell, nor an invitation to make investment decisions. The content is intended solely for monitoring and study purposes. Investment decisions are the sole responsibility of the investor, based on their financial situation and investment goals.
