EGX70 Technical Outlook: The "Honeymoon" Phase Warning EGX 70 EWI IndexEGX_DLY:EGX70EWImnmabroukw36ix🏛️ EGX70 Technical Outlook: The "Honeymoon" Phase Warning ⚠️ I like to keep things simple and realistic. Looking at the EGX70, the signals are becoming hard to ignore. Here is the breakdown of why the small and mid-cap rally is facing a reality check: Extension Targets Met: Last month, we officially reached the Fibonacci extension targets. Historically, when these levels are hit alongside a lack of fresh catalysts, the probability of a reversal increases significantly. Volume Exhaustion: We are seeing clear weakness in volume. A rally without rising participation is a "hollow" move, suggesting that the buying power that drove the recent honeymoon phase is drying up. 📉 Key Support Floors: Primary Support: 12,160. This is the first line of defense. The Floor: 11,000. If 12,160 fails, I expect a swift move toward this level to find a more sustainable base. The Strategy Shift: For me, the honeymoon in EGX70 is over for next month. My focus is shifting exclusively to strong fundamental stocks. Even if a stock shows a "strong technical" setup, if the fundamentals are weak, it’s a pass. 🛡️ My Take: In an environment where liquidity is thinning, fundamentals act as your safety net. I hope you follow the same discipline don't get caught chasing technical ghosts in stocks that lack real value. 🧘♂️🎯 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 ✨💸