Cairo – Mubasher: Stock market analysts expect the Egyptian Exchange (EGX) to show a positive performance on Sunday, with the benchmark EGX30 index is likely to target the level of 14,000 points.
Market analyst at Mubasher International for Securities Shahd Raafat said that the main index ended the week in a bullish candle to close at 13,683 in average volume.
Raafat added that breaking above the resistance 13,544 points will pave the way for a further rise towards 13,800 points, while the level of 13,544 points became the support and stop-loss trigger for the short-term.
Meanwhile, technical analyst Ayman Fouda expected the EGX30 index to have short-term resistances at 13,850 and 14,100 points, while the support levels are forecast to be 13,600 and 13,544 points.
The small- and medium-sized enterprises index EGX70 is likely to face resistances at 616 and 620 points, and has supports at 603 and 595 points, Fouda added.
