Cario – Mubasher: The benchmark index EGX30 of the Egyptian Exchange (EGX) will move higher on the short – run as long as it breaks above the level of 8,280 points, said Houda ELMenshewy, Head of Research at Egyptian Group Securities.
The level of 8,280 considered the safe zone for reentering the market, added ELMenshewy, noting that following this level the benchmark will target the levels of 8,328 and 8,436 points respectively.
The benchmark will target the levels of 8,610 and 9,100 points on both the short and medium term.
In the same context, Shahd Raaft, technical analyst at Mubasher trade said the benchmark is expected to move lower towards the level of 8,200 points after it closed slightly below the level of 8,257 points.
