# **CONTACT Financial Holding | Bullish Reversal from Golden Fib

9 Mar

# **CONTACT Financial Holding | Bullish Reversal from Golden Fibonacci Zone 🚀**

**Ticker**: EGX:CNFN
**Timeframe**: 1D
**Pattern**: Fibonacci Golden Ratio Reversal + Descending Trendline Breakout

### **📌 Key Analysis:**
- The price has approached the **Golden Fibonacci retracement level (0.618 - 0.705)**, a key area where buyers tend to step in.
- There is a strong **historical support zone** aligning with this golden pocket, increasing the probability of a rebound.
- The **descending trendline** is acting as resistance. A breakout above this level would confirm the bullish reversal.
- **RSI** is at a relatively low level, indicating that the stock may be oversold and primed for a reversal.

### **🎯 Targets:**
1. **4.18 EGP (0.618 Fib Retest)**
2. **4.45 EGP (0.5 Fib Level)**
3. **4.94 EGP (0.382 Fib Resistance)**
4. **6.43 EGP (Major Long-term Target from Previous Highs)**

### **🛑 Stop Loss:**
- A break below **3.25 EGP (0.79 Fib Level)** would invalidate the bullish setup.

### **🔥 Bullish Confirmation:**
- A breakout above **4.18 EGP** with strong volume.
- Positive momentum and RSI turning upwards.

If confirmed, this setup presents a **great risk-reward ratio** for a potential upside move. 🚀📈

What do you think? Let me know your thoughts in the comments! NOT FINANCIAL ADVICE⬇️

19 Mar

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27 Mar

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