IDRE: Macro Breakout Confirmed – Entering an Ascending ChannelIsmailia Development & Real Estate Co.EGX_DLY:IDREsnourIDRE Weekly Chart Market Overview: Ismailia Development & Real Estate Co. (IDRE) on the weekly chart shows a major structural shift. After a multi-year corrective phase under a dominant descending resistance line (originating from the 98 peak in late 2021 and connecting through the 60 peak), the stock has decisively broken out of its macro downtrend. It is now establishing a clear bullish continuation structure. Technical Breakdown: 1. Price Action & Key Levels: The Macro Breakout: The long-term blue descending trendline was broken mid-2025. Following the breakout, the stock successfully retested the broken structural level, confirming the shift from resistance to support. Ascending Channel Formation: Price action is now cleanly locked inside a well-defined ascending green channel. Current Stand: Closing the week strongly at 44.72 EGP (+6.35%), the stock is pushing back toward the recent swing high at 49 EGP, which acts as the immediate local resistance. Support Zones: Solid structural support sits at the lower boundary of the channel, currently tracking around the 35–37 EGP zone. 2. Momentum Indicators: RSI (14): Currently sitting bullishly at 61.85 and rising above its signal line (56.75). The RSI shows a healthy higher-low structure over the past year, confirming sustainable, building bullish momentum without being overbought yet. MACD: The MACD line (2.45) is sustaining a position above both its signal line (1.63) and the zero baseline. The green histogram bars are expanding upward, verifying a solid, mid-term bullish cycle. Trading Strategy & Targets: IDRE has clearly transitioned from a long-term bear market into a structural bull market on the weekly timeframe: Immediate Target: A test and potential breakout of the 49 EGP local peak. Medium-Term Target: If the ascending channel holds its structure, the upper channel boundary flags a technical target moving toward the 60 EGP macro horizontal resistance zone (the late 2023 peak). Risk Management: The bullish thesis remains intact as long as the stock holds above the lower ascending channel line on a weekly closing basis.