Cairo – Mubasher: The Egyptian Exchange is expected to keep losing points in Monday’s trading session due to profit-taking, analysts said, adding that EGX30 is likely to test the support levels of 7,320 and 7,400.
On 20 March, Cairo bourse ended an eleven-session winning streak as the benchmark closed down 0.26% to 7,465.8 points.
By this retreat, the main gauge pared Sunday's early gains to close in the red zone, said Mona Hassan, Chief technical analyst at Mubasher. She anticipated EGX30 to keep moving down to the level of 7,100.
The process of profit-taking is expected to continue in Monday’s trading session, said Ayman Fouda, head of capital market committee at the African Economic Council, clarifying that the main index will retest the levels of 7,600 and 7,700, while having support at the levels ranging from 7,320 to 7,400.
