Cairo – Mubasher: The Egyptian Exchange is likely to see profit-taking during Wednesday’s trading sessions, said analysts, pointing out that the benchmark is moving between 7,300 and 7,550 points.
The market’s stocks and sectors are expected to continue on profit-taking following the uptrend they adopted earlier, said Ayman Fouda, head of capital market committee at the African Economic Council. Accordingly, EGX will likely retest the levels of 7,550 and 7,670 for reaching the target of 7,730 points, having support at the level of 7,370 first and then at 7,300, Fouda added.
On the other hand, the small and mid-cap EGX70 is expected to face the resistance levels of 364 and 368 respectively, having support at the levels of 358 and 355, Ayman Fouda said.
On 22 March, the benchmark closed down by 0.85% to 7,430.33 points, weakened by blue-chip stocks.
