Cairo – Mubasher: Financial analysts diverged on the performance of Cairo bourse on Tuesday, pointing out that the benchmark is moving between 7,400 and 7,650 points.
The main index reversed Monday’s early fall to record the highest level during yesterday’s trading session, said Mona Hassan, Chief technical analyst at Mubasher. However, EGX30 is likely to move down to 7,100 points on profit-taking.
Different from the chief analyst’s voice, Ayman Fouda, head of capital market committee at the African Economic Council, said that the main gauge is going upwardly on the short and medium-term. It is targeting the levels of 7,500 and 7,650 and having support at the levels ranging from 7,300 to 7,370.
On 21 March, EGX30 neared the level 7,500, closing higher 0.38% to 7,494 points.
