ORWE - EGX : Review on daily and monthly time-framesOriental Weavers CarpetEGX_DLY:ORWEsnourORWE Current Price: EGP 22.90 (+1.91% Daily / +2.23% Monthly) Daily Range: 22.47 – 22.94 Monthly Range: 22.20 – 23.24 Volume: 919.92K (Daily) vs. 8.23M (Monthly to date) __________________________________________________________ 1. Monthly Timeframe (Macro Trend & Long-Term Structure) Macro Bull Market: The multi-year chart shows a strong long-term expansion phase coming off the 2020–2022 bases (~EGP 3.00–6.00 range) to an all-time peak near EGP 27.00–28.00 in late 2024. Rounded Base / Cup Consolidation: After retracing toward ~EGP 19.00, the monthly price action has formed a broad cup/rounded accumulation structure (orange dashed line). The current monthly candle shows steady buying pressure breaking upward toward the right side of the rim. ___ Monthly Indicators: RSI (14): Stands healthy at 60.87 (above signal 58.73), indicating strong macro underlying momentum without being overbought. MACD: Remaining well above the zero line in positive territory (1.39), though histogram red bars are flattening out—suggesting a momentum bottoming process turning back up. __________________________________________________________ 2. Daily Timeframe (Tactical Setup & Consolidation Breakout) Symmetrical Triangle / Wedge Apex: On the daily chart, price action has compressed tightly inside a converging triangle pattern: Resistance Line: Downward blue line connecting the June peak (~24.20) through July lower highs. Support Line: Upward-sloping orange trendline extending from April/May higher lows (~20.50 up through 22.40). Current Apex Test: The price (22.90) is sitting right at the upper descending boundary of the triangle, testing immediate breakout territory. ____ Daily Indicators: RSI (14): Ticking up to 52.83 (crossed above its signal line at 47.96), reflecting fresh short-term bullish momentum. MACD: The histogram is turning positive green with the fast line preparing for a bullish crossover near the zero mark (-0.004 vs 0.022). Trading Setup & Conclusion Bullish Continuation Trigger: A decisive daily close above EGP 23.00–23.20 with expanding volume confirms the symmetrical triangle breakout on the daily chart, aligning with the macro monthly rounded base continuation towards 24.20 and eventually 26.00+. Conservative Entry Strategy: Look for a sustained push above 23.00 or buy dips closer to the ascending support trendline around 22.40–22.50. Stop loss invalidation fits below 21.80.