Cairo – Mubasher: The Egyptian Exchange's (EGX) main index is forecast to test the 10,200-400 zone within an upward corrective movement on Wednesday, according to analysts.
MubasherTrade Research said that the benchmark fell for the second session in a row to 10,640 in the mid-week trading session on a profit-taking wave, expecting the bourse "to move in a sideways between 10,600 and 11,000 during the coming few sessions."
Market analyst Ibrahim Al-Nimr anticipated the benchmark index to target the 9,775 area after having registered leaps over the past two weeks near the key resistance 11,130 points.
Traders are advised to decrease their position, Al-Nimr added, clarifying that EGX30 stop-loss level is at 8,600 points.
