Cairo – Mubasher: The Egyptian Exchange is likely to maintain its bull run on the short term, only if the main index (EGX30) succeeds to hold above the mark of 7,645 points in Monday's trading session, said analysts.
The benchmark index is currently moving sideways, said Ayman Fouda, head of capital market committee at the African Economic Council
In case that purchasing powers come up with high trading volumes on blue-chip stocks, the EGX30 index will target the area of 7,645 -7,700 points, while having support at the 7,550 – 7,480 points, he added
Market analyst at EGS Brokers Hoda El Menshawy assured that the benchmark will leave the dangerous zone on the short term only by crossing the area ranging from 7,603 to 7,645 points.
In the event of any other downward scenario, “the main gauge is to target all previous marks until reaching the bottom of the channel at 6,830 points”, she said.
On Sunday, the bourse ended in the green territory after its indices gave a volatile performance at different intervals of the trading session.
