FWRY: Near Critical Trendline Support – Bounce or BreakdownFawry For Banking Technology And Electronic PaymentEGX_DLY:FWRYsnourTicker: FWRY Timeframe: 1D (Daily) Direction: Neutral / Watchlist for Long Executive Summary Fawry (FWRY) is currently experiencing a sharp short-term corrective phase, closing down -4.00% at 18.70 EGP. The price is rapidly approaching a major multi-month ascending trendline that has supported the broader bullish structure since early 2026. This setup presents a high-probability "make-or-break" junction for both swing traders and long-term investors. Technical Breakdown Price Action & Key Levels: * Resistance: The stock recently faced rejection near the 21.50 EGP local top (solid blue horizontal line), forming a potential double-top-like structure. It has also broken below the minor support level at 19.30 EGP (dashed orange line). Support: The key level to watch is the solid brown ascending trendline, currently intersecting right around the 18.30 – 18.50 EGP zone. Below that, a deeper historical value pocket sits between 16.1 – 16.4 EGP (as highlighted by the dashed orange target zone). Momentum Indicators: MACD (12, 26, 9): Currently printing a bearish crossover below the zero line, with expanding red histogram bars. This indicates that short-term sellers are firmly in control, and the downward momentum has not fully decelerated yet. RSI (14): Sitting at 39.32, moving sharply lower toward the oversold boundary (30). While there is still a bit of room to drop before becoming technically "oversold," the rapid decline suggests an exhaustion point could be near. Trading Strategy & Scenarios ⚠️ Patience is Key: Entering right now means catching a falling knife. Wait for the daily candle to interact with the trendline before executing. 📈 Scenario A: The Bullish Reversal (Preferred Buy Setup) Trigger: Wait for price stabilization or a strong rejection candle (e.g., a hammer or bullish engulfing) right at the ascending trendline (18.30 - 18.50 EGP), accompanied by an RSI tick upward. Targets: * TP1: 19.40 EGP (Previous broken support turned resistance) TP2: 21.00 EGP Stop Loss (SL): A daily close below 18.00 EGP invalidates this setup. 📉 Scenario B: The Bearish Breakdown Trigger: If FWRY breaks cleanly below the trendline on high volume and closes a daily candle under 18.00 EGP. Action: Avoid long positions. Expect a deeper correction toward the key structural demand zone at 16.10 – 16.40 EGP, which would offer a much better long-term risk/reward ratio. What are your thoughts on FWRY here? Are you waiting for the trendline bounce, or do you expect a deeper correction to 16 EGP? Let me know in the comments below!