Cairo - Mubasher: Egypt Aluminum’s stock is nearing the end of the sideways corrective movement that has continued over the past months, Mubasher Research indicated, based on recent technical movements.

The stock will gradually return to an upward trajectory in the medium term, supported by positive technical signals and a relative improvement in liquidity.

On the daily and weekly timeframes, the stock moved in a positive direction after rebounding from a strong support phase between EGP 150.00 and EGP 143.00, levels that formed a new starting base.

The candlestick closed with a significant increase accompanied by a relative hike in trading volume, reflecting the return of purchasing power after a sideways fluctuation.

Likewise, the Relative Strength Index (RSI) is showing a significant recovery after exiting the oversold zone, while the MACD indicator is approaching a new positive crossover, reinforcing the prospects for continued upward movement in the coming weeks.

The stock remains technically positive as long as it maintains trading above EGP 164.00, potentially targeting its highest peak this year near EGP 195.00, backed by strong trading momentum.

Meanwhile, the stock's performance witnessed a strong rise in the first quarter (Q1) of 2025, reaching its all-time high in March at EGP 195.00, before entering a downward correction that continued throughout Q2 and Q3.

By early October, the stock stabilized around EGP 170.00 with some minor rebounds, indicating attempts to establish a new price base in preparation for a potential upward trend.

Egypt Aluminum is a subsidiary of the Metallurgical Industries Holding Company, which is itself a subsidiary of the Ministry of Public Business Sector. It is one of the largest industrial entities in Egypt and Africa in the field of aluminum production and manufacturing.

The EGX-listed company operates an integrated production chain that includes the forming and manufacturing of various types of aluminum to meet the needs of the local market and export. Its market cap amounts to approximately EGP 68.4 billion, with 412.5 million shares outstanding.

It holds a relative weight of 0.92% on the EGX30 index, reflecting its importance in the basic resources sector on the Egyptian Exchange.

Regarding its financial position, the group’s net profits after tax jumped by 9% year-on-year (YoY) to EGP 10.18 billion during fiscal year (FY) 2024/2025, compared to EGP 9.32 billion.

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.