We’re excited to share with you our top picks for November 2022!
PLUS – We’ve added technical analysis commentary for our top 10 picks!
News Scan
All ten companies passed our news scan, where we scan for news that could potentially have negative sentiment effects on the stock.
Last month’s performance
Both October’s Electric Stocks & the EGX30 performed well during the month, returning 11.37% & 15.72% respectively.
Performance since inception
We’ve been tracking the performance of our Electric Stocks, which uses a factor investing methodology, since its inception back in June 2021.
Since kicking off our Electric Stocks, if you had invested equally in each month’s picks you would have made a 20.21% return versus an 11.06% return on the EGX30 over the same period.
Technical Analysis Commentary
ABUK
- Over the medium term, the stock is in an uptrend
- Hold as long as it’s above EGP 26.14
- Targets EGP 28.72 as long as it stays above EGP 26.14/share
- Buy if the stock breaks EGP 28.72 & closes above EGP 28.75; the next target price is EGP 31.31
- Take profit in the event it doesn’t break EGP 28.72, or it breaks EGP 26.14
- Exit position completely if it breaks EGP 23.55
MFPC
- In the medium term, the stock is in an uptrend
- Hold stock as long as it’s above EGP 110
- The next target price is EGP 116 then EGP 123
- Take profit or stop loss if it breaks below EGP 110
EKHOA
- Over the long term, the stock is in an uptrend
- Hold stock as long as it’s above EGP 26.25
- The next target price is EGP 27.75 then EGP 29
- Take profit or stop loss if it breaks below EGP 26
JUFO
- Over the medium term, the stock is in a sideways trend, with an EGP 7.15 support level & EGP 8 resistance level
- If stock breaks above EGP 8 next target is EGP 8.75
- Stop loss if it breaks below EGP 7.15
AUTO
- Over the medium term, the stock is in an uptrend
- Hold stock as long as it’s above EGP 3.85 (this is also stop loss/take profit level)
- Target price is EGP 4.25 then EGP 4.6, in the event it breaks and closes above the EGP 4.25 level
- Take partial profit if the stock doesn’t break EGP 4.25
CLHO
- In the medium term, the stock is moving in a sideways direction and is leaning towards a decline.
- It is possible to form purchasing positions at a percentage not exceeding 25% as long as the stock is above the level of EGP 3.80.
- Increase buy positions if it breaks and stabilizes above the EGP 4.00 barrier.
- If EGP 4.00 is broken, it will target EGP 4.25.
- Stop loss in the event of a decline and the closing is below the level of EGP 3.80 because if the stock settles below the level of 3.80 EGP, a bearish target is formed until the EGP 3.40 level.
OLFI
- The stock is in an uptrend and has already achieved several targets, especially after breaching the EGP 5.40 barrier.
- The current target is EGP 6.35.
- Penetration and stability above the level of EGP 6.35, targeting EGP 6.65.
- The inability of the stock to cross the level of EGP 6.35 due to intense selling at the level. It is preferable to set a take-profit limit of at least 25%.
- In general, stock can be kept as long as the level is above EGP 6.00.
- Set take profit or stop loss in case of breaking and closing below EGP 6.00.
ORWE
- Over the medium term, the stock is in an uptrend.
- It is preferable to hold with an increase in positions in case of breaking and closing above the EGP 7.80 level.
- Partial take-profit of 25% in case of decline below EGP 7.55.
- The current target is EGP 7.80, the continued positive performance sets the target level at EGP 7.80, then EGP 8.00, then finally, EGP 8.27.
- Stop loss or take profit if the stock falls below EGP 7.30.
SUGR
- The stock is in an uptrend; hold as long as it is above EGP 16.85.
- The current target is EGP 16.85, and the next is EGP 17.50, then EGP 18.15.
- If the stock falls below the level of EGP 16.85, it is preferable to take 50% profits.
- Stop loss if it breaks and closes below EGP 16.20.
ETEL
- In the medium term, the stock is in an upward direction, and it is preferable to hold it as long as it is above EGP 17.70.
- During the current month, the stock is moving in a sideways direction between the support at EGP 17.70 and the resistance at EGP 18.85.
- Take profit or stop loss if it breaks and closes below EGP 17.70.
- Increase buying positions if the stock breaches the EGP 18.85 barrier and the target level will be EGP 20.00.
* This is not investment advice, & you should do your own research before making investment decisions.
