AMOC - EGX : The long-term big pictureAlexandria Mineral Oils Co.EGX_DLY:AMOCsnourAMOC Monthly Chart 1. The Structural Base (2020 – 2026) Looking at the absolute macro bottom in 2020 (around 1.50 EGP), the asset has established a multi-year sequence of Higher Lows (tracked perfectly by the dashed grey ascending trendline). Even during major corrections, the market has consistently stepped up to buy the stock at higher floors over a 6-year horizon. This is the definition of a long-term structural uptrend. 2. Market Context: Corrective vs. Bearish The sharp decline from the late 2023 peak near 12.00 EGP down to the 6.00–7.00 EGP range can look intimidating, but on a quarterly/monthly zoom-out, this represents a healthy macro correction rather than a structural breakdown. It allowed the stock to mean-revert, cool down historical overbought technicals, and retest the major historical multi-year resistance from 2017–2018 (which sits right around that 7.25 EGP belt). Old resistance turning into new macro support is classic secular bottoming behavior. 3. Momentum Reset On the monthly indicators, notice where the RSI is finding its footing. It has drifted down from the overbought extremes of 2023 and is flattening right around the 50 midpoint. In macro technical analysis, an RSI holding the 50 level during a deep consolidation indicates that the broader bullish regime is intact—the market is simply transferring shares from impatient hands to long-term accumulators. Macro Summary The big picture isn't a "broken" chart; it's a massive consolidation structure building energy underneath a heavy macro ceiling. Until the structural ascending trendline or the key monthly support at 6.70 EGP breaks convincingly on a closing basis, the macro bias remains cautiously constructive.