The Casablanca Stock Exchange reaches a new peak: Technical projections by Mehdi Chekkouri

According to Mehdi Chekkouri, founder of Greenfintech, specialized in discretionary management, the signals remain generally bullish, despite an atypical market context. A major resistance has been surpassed "After the invalidation of the bearish divergence observed during the week of July 11 and confirmed on the 18th, the market has surpassed a major technical resistance, opening the way to a new high," explains the analyst. This configuration has anchored the MASI above a psychological and technical threshold, reinforcing the bullish sentiment. When classic indicators are no longer sufficient In such a directional environment, classic technical analysis tools — RSI, MACD, or moving averages — lose their relevance in the short term. Chekkouri recommends turning to volatility indicators and dynamic market analysis, better suited to this type of phase. Two key signals are currently observed: The historical volatility (HV 10), which measures statistical volatility over 10 days, confirms an intensification of price movements. The TTM Squeeze, a volatility compression indicator, suggests that the market is in a phase of rapid expansion, typical of bullish rallies. Technical target: between 19,800 and 20,500 points By relying on Elliott wave analysis and Fibonacci extensions, the analyst identifies a target for the current minor wave between 19,800 and 20,500 points. "This projection is consistent with the long-term bullish structure initiated since 1993. It confirms a phase of expansion of the current cycle, which had already been anticipated at the end of 2024 when the MASI was trading around 14,000 points," Chekkouri explains. While there is no guarantee that the rally will continue in a linear manner, the momentum remains intact for now. The crossing of key resistances and the absence of visible reversal signals suggest that the market could target the mentioned levels in the coming weeks.