Cairo – Mubasher: The Egyptian Exchange is likely to maintain the bull-run on Thursday, analysts said, expecting the main gauge to test higher new levels.
The benchmark is moving up and down in an ascending price channel and may target the channel's upper line at 6,400 or 6,500 points, said Ibrahim El-Nimr, head of technical analysis at Naeem Holding.
The analyst added that EGX70 is moving in a narrow sideways trend between the support level of 347 points and the resistance level of 355 points., He clarified that the small and mid-cap index can near the level of 365 points if breaking above 355 points.
Investors are advised to purchase when the main index nears support levels, said the analyst, setting stop-loss point at 6030 points.
