MICH – Double Top Rejection & The 11% Yield FloorMisr Chemical Industries Ltd.EGX_DLY:MICHmnmabroukw36ixMICH – Double Top Rejection & The 11% Yield Floor 📉🧪 The Reality: The "High-Yield King" is cooling off! 👑 While MICH remains a dominant monopoly in caustic soda and chlorine, it has hit a "Capacity Plateau." Net profit for the first nine months of FY 2025/2026 fell 7% YoY to EGP 397.4M, largely due to rising energy costs. Future growth is now entirely dependent on their EGP 300M+ plant upgrade. 🏗️📉 The Cash Cow: MICH is a fortress. 🏰 It is effectively debt-free and generates massive operating cash flows. However, this cash-rich status is its Sharia downfall the interest income from its EGP 882M+ reserves consistently breaks the 5% revenue threshold. 🏦🚫 Sharia Confirmation: ❌ Non-Compliant. Fails due to high Interest Income (>5%) and a Cash-to-Asset ratio that often exceeds the 33% limit. ☪️🚫 Technical Analysis: The chart shows a classic "Momentum Exhaustion" near the highs. 📉🩹 The Double Top: The price tested the ATH resistance twice and failed both times. This is a clear signal that the bulls are tired for now. 🧱🐂 The Fib Play: We are currently seeing a reaction from the 50% Fibonacci retracement level. However, the medium liquidity suggests this isn't a "V-shaped" recovery yet. 🎢⚪ The Pullback Zone: Expect a healthy pullback toward the 35.35 support level. This would be a logical zone for buyers to step back in. ⚓🧱 The Target: If 35.35 holds and liquidity returns, the next target remains a retest of 38.00 and eventually the ATH. 🏁🎯 Verdict: A Dividend "Hold." MICH is a safe haven for income, but the growth engine is idling until the new plant comes online. Watch the 35.35 support if it holds, we might see another run at the 38.00 resistance. 🛡️📉 If you like my posts, please follow and boost 🙌 🎁 Get a $15 discount on your next subscription: 🔗 https://www.tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸