Cairo - Mubasher: Al Khair River for Development Agricultural Investment and Environmental Services Company’s (Nahr Elkhair) stock has been trading within a wide sideways range between support at EGP 0.445 and resistance at EGP 0.66.
Technical indicators noted that the stock successfully broke through the significant resistance level at EGP 0.66.
Mubasher Research highlighted that the price has since stabilized below this level again, having exceeded the 61% Fibonacci retracement of the previous upward wave.
This suggests selling pressure, and the price is now retesting the EGP 0.60-EGP 0.61 resistance. Holding below this level reinforces the continuation of selling pressure, targeting the EGP 0.57 level.
Toreturn to a positive outlook in the short term, the price needs to hold above EGP 0.61 to target EGP 0.625. A break above this level would support the possibility of an upward move towards EGP 0.64.
Price Action Summary
Nahr El Kheir’s stock began trading in 2025, moving sideways from the beginning of the year until the beginning of December, without breaking through any key levels.
Recently, the stock successfully broke out of the sideways range that had lasted for a full year with an increase in trading volumes, but then in January 2026, the price was subjected to sharp selling pressure to re-enter the sideways range.
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. This 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.
