AMIA: New ATH, Weak Liquidity, and Bearish Divergence CautionArab Moltaqa Investments CompanyEGX_DLY:AMIAmnmabroukw36ix📊 AMIA: Strong Fundamentals, But Momentum Suggests a Healthy Pullback First ⚖️ 🏛️ Fundamental Review: 📊 Business Quality: AMIA is one of Egypt's leading investment holding companies, with diversified exposure across financial services, real estate, agriculture, and industrial investments through a portfolio of strategic subsidiaries. 🏢 ✅ Strengths & Catalysts: The company continues to deliver exceptional earnings growth, supported by strong investment gains and high-quality subsidiary performance. 📈 Profitability, revenue growth, operating efficiency, and valuation all remain attractive, making AMIA one of the fundamentally stronger holding companies on the EGX. 💪 Its strategic shareholders control more than 80% of the company, providing long-term stability and institutional confidence. 🏦 ⚠️ Risks: Financial health remains the company's weakest area, with net debt exceeding comfortable levels despite the strong operating performance. ⚠️ Investment income can fluctuate significantly depending on asset sales and market conditions, making quarterly earnings less predictable. 📉 🕌 Sharia Compliance: ❌ Not Sharia-compliant. Although the company's activities are generally permissible, its leverage exceeds the financial screening thresholds required for EGX33 Sharia compliance. ⚖️ 🔍 The Pulse: AMIA has delivered an impressive rally and recently printed a new all-time high. 🚀 However, today's breakout came on relatively weak liquidity, with around 40M EGP traded compared to nearly 120M EGP during the previous all-time high. 📊 Several momentum indicators are also showing bearish divergence, suggesting that buying momentum is beginning to weaken. ⚠️ I expect a healthy pullback before the stock attempts another bullish leg. 📉 As long as price remains above the key support at 9.31 EGP, the long-term structure remains constructive. 💪 If buyers regain control after the pullback, the next technical objective becomes the Fibonacci extension near 12.86 EGP. 🎯 🧱 The Key Structural Boundaries 📍 Support, 9.31 EGP. Holding above this level keeps the current bullish structure intact. 🚀 Bullish Continuation. A successful rebound from support could restart the primary uptrend. 🎯 First Target, 12.86 EGP. The next major Fibonacci extension and my primary technical target. ⚠️ Warning. Bearish momentum divergence and declining breakout liquidity increase the probability of a short-term pullback. 🛑 Stop Loss. A confirmed break below the middle band of the rising trend channel invalidates the current bullish setup. 🎯 The Verdict: AMIA remains fundamentally one of the stronger investment holding companies on the EGX. 🏆 The main concern is its weak financial health due to elevated net debt. ⚠️ Technically, I believe a healthy pullback is more likely before another advance because momentum is fading while liquidity has weakened. 📉 Patient investors should wait for the pullback to complete before considering new positions. 🤝 --- If you like my insights, follow and boost! 🙌💙🚀 🎁 $15 TradingView Discount: https://www.tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸🤑