Medical Packaging Company (MEPA) – Ready for a Bounce?Medical Packaging CompanyEGX_DLY:MEPAsnourMEPA Weekly Chart Hello traders! Today we are looking at Medical Packaging Company (MEPA) on the Egyptian Exchange (EGX) using the weekly (1W) timeframe. The chart shows a very interesting pattern shaping up that could offer a great risk-to-reward opportunity. Here is a simple breakdown of what’s happening in plain English: 🔍 The Big Picture: Higher Highs & Higher Lows If you look at the long-term trend lines (the solid blue line at the top and the pink line at the bottom), MEPA has been trading inside a giant, healthy upward channel. The Support (Floor): Every time the price drops near the bottom pink line, buyers step in. The Resistance (Ceiling): Every time it gets close to the top blue line, sellers push it back down. Right now, we are sitting comfortably in the middle of this giant channel, meaning there is plenty of room to grow upward. 📈 The Short-Term Setup: A Classic "Cup & Handle" or Flag Zooming into the recent price action (indicated by the dashed yellow curves), the stock looks to be forming a classic Cup and Handle pattern: The Cup: The stock peaked at 2.02 EGP, dipped down to find a solid floor around 1.30 EGP, and then curved back up to 1.84 EGP. The Handle: Over the last few weeks, the price has been gently drifting downward inside a tight mini-channel (the teal and blue lines). This is completely normal behavior—it's just the market taking a breather after a big rally. Currently trading around 1.67 EGP, the stock is holding up well, and the RSI indicator sitting right around 53 shows that it is neither overbought nor oversold. It is perfectly neutral and primed for its next direction. 🎯 Trading Plan Entry Zone: Current levels (1.65 - 1.67 EGP) look attractive as the stock attempts to find its footing and break out of the mini-downward channel. Target 1 (Short-term): 1.84 EGP (the recent peak of the handle). Target 2 (Medium-term): 2.00 - 2.02 EGP (testing the major previous resistance). Target 3 (Long-term): 2.20+ EGP (aiming for the upper blue trendline). 🛡️ Risk Management (Stop Loss) No trade is 100% guaranteed, so protection is vital! Stop Loss: A daily/weekly close below 1.55 EGP (just underneath the current flag support) would invalidate this bullish setup. What do you think? Will MEPA break out of the handle this week? Let me know your thoughts in the comments below!