AMOC - EGX : Fibonacci targets calculationsAlexandria Mineral Oils Co.EGX_DLY:AMOCsnour## Structural Base Inputs From the visual architecture of your macro weekly chart, we identify a highly explosive Wave 1 (or Wave A) impulse that broke out from the long-term descending resistance trendline (R), followed by a clean, shallow pullback back to historical key structural support: •Wave 1 (Start / Major Swing Low): A = 6.70(the absolute floor established before the massive breakout spike) •Wave 1 (Peak / Dynamic High): B = 9.90 •Wave 1 Amplitude: 9.90 - 6.70 = 3.20 •Wave 2 (Current Retest Floor): C = 7.68 - 7.71 zone. We will use the conservative current support line of 7.71 for these base calculations. ## Fibonacci Extension Projections (Wave 3 / C Targets) By extending the total vertical amplitude of that initial major breakout ( 3.20 ) from the current defensive floor ( C = 7.71 ), we outline the mid-to-long term structural targets for the next major leg upward: __ 1. Minor Target (61.8% Extension) •Formula: C + (0.618 x Wave 1 Amplitude ) •Calculation: 7.71 + (0.618 x 3.20) = 7.71 + 1.98 •Target Level: 9.69 •Significance: This level forms an immediate cluster right below the psychological 9.90 peak. It serves as a conservative target where partial profits can be taken or trailing stops tightened. __ 2. Standard / Primary Target (100% Extension — Equal Waves) •Formula: C + (1.000 x Wave 1 Amplitude ) •Calculation: 7.71 + (1.000 x 3.20) = 7.71 + 3.20 •Target Level: 10.91 •Significance: This is the textbook baseline goal for an intermediate Wave 3 or clear structural Wave C. It represents a full, symmetrical mirroring of the first explosive leg and opens the path back into the double-digit territory. __ 3. Extended / Major Impulse Target (161.8% Golden Extension) •Formula: C + (1.618 x Wave 1 Amplitude ) •Calculation: 7.71 + (1.618 x 3.20) = 7.71 + 5.18 •Target Level: 12.89 •Significance: The golden macro target. If the broader market index supporting the EGX gains structural momentum, an extended third wave typically clears the 100% boundary to tap the 12.50 – 12.90 liquidity block. ## Technical Synthesis & Validation Triggers •The Floor: The weekly chart beautifully emphasizes how the 7.68 – 7.71 horizontal shelf is serving as a solid "Launchpad". It acts as the definitive line in the sand; as long as the weekly closes hold above 7.60 , this bullish structural count remains highly valid. •Momentum Clues: The weekly MACD remains in positive territory (the blue line is well above zero at 0.154), showing that the higher-timeframe bullish trend remains dominant despite the recent temporary daily drift.