Gann Analysis of Housing & Development Bank (HDBK)

16 déc.

1. Key Gann Levels**
The chart utilizes Gann angles and horizontal price divisions derived from **square of 9**. These levels represent **critical supports and resistances**:

| **Gann Angle** | **Price Level (EGP)** | **Significance** |
|----------------|-----------------------|---------------------------------------------|
| **1080°** | **75.21** | Major resistance at the upper zone. |
| **990°** | **66.79** | Strong resistance; previous price rejection.|
| **900°** | **58.86** | Significant resistance; near a prior top. |
| **810°** | **51.44** | Price is trading slightly above this level. |
| **720°** | **44.52** | Strong support; historical breakout zone. |
| **630°** | **38.10** | Key support; acted as a consolidation area. |
| **540°** | **32.17** | Psychological support level. |
| **450°** | **26.75** | Lower strong support; previous accumulation.|
| **360°** | **21.83** | Important support; breakout level in 2023. |
| **270°** | **17.41** | Secondary support from earlier trend. |
| **180°** | **13.49** | Significant base support. |
| **90°** | **10.06** | Long-term low zone support. |
| **0°** | **7.14** | All-time bottom support. |

---

2. Current Price Behavior**
- **Current Price:** **53.88 EGP**
- **Position:**
- Price is holding **above 810° (51.44 EGP)**, a significant level.
- The next resistance level is **900° (58.86 EGP)**.
- **Trend Analysis:**
- **Strong bullish trend** from 2022 to mid-2023, followed by a **consolidation phase**.
- The price has maintained higher lows, indicating continued bullish momentum.

---

3. Key Observations**
1. **Support & Resistance Zones:**
- **Immediate support:** **810° (51.44)**.
- **Immediate resistance:** **900° (58.86)**.
- **Breakout Level:** If price surpasses **58.86**, it can rally towards **66.79 (990°)**.

2. **Long-Term Trend:**
- The long-term trend remains **upward**, with pullbacks respecting Gann levels as dynamic supports.

3. **Accumulation and Strength Zones:**
- The **720° (44.52 EGP)** zone shows strong historical support and accumulation.
- Maintaining above this level indicates continued bullish strength.

---

4. Scenarios**
#### **Bullish Scenario:**
- **Condition:** Price breaks and holds above **58.86 (900°)**.
- **Target Levels:**
- **66.79 EGP (990°)**
- **75.21 EGP (1080°)**

#### **Bearish Scenario:**
- **Condition:** Price breaks below **51.44 EGP (810°)**.
- **Target Levels:**
- **44.52 EGP (720°)**
- **38.10 EGP (630°)**

---

5. Summary**
- The current price of **53.88 EGP** is showing stability above the **810° (51.44 EGP)** level.
- Watch for a breakout above **58.86 EGP** for further bullish momentum.
- A failure to hold above **51.44 EGP** could trigger a decline toward **44.52 EGP**.

Your comments are appreciated!
Wish you best of luck

16 déc.

Note

More Magic Here

16 déc.

Note

Zoom in to The Chart
and Find the Magic by your eyes like this: