Cairo – Mubasher: The benchmark EGX30 index is likely to retest the levels of 13,960 and 14,100 points on the back of rising blue chips, analysts told Mubasher.
The main indices of the Egyptian Exchange (EGX) may resume testing new resistance levels, in line with the continuous momentum investing on blue chips, said head of capital market committee at the African Economic Council Ayman Fouda.
The EGX30 index may retest resistance levels of 13,960 and 14,100 points if it settled above 13,850 points, while it may see support at 13,780 and 13,640 points, Fouda added.
The small- and medium-sized enterprises EGX70 index has a short-term resistance at 765 and 777 points, while it has support at 750 and 744 points, he indicated.
Fouda recommended short-term investors and quick traders to buy active stocks on margin.
