Cairo – Mubasher: The Egyptian Exchange is expected to continue on the gaining streak initiated before Eid Al-Fitr holiday, said analysts.
Last week, the benchmark index (EGX30) unexpectedly gained 240 points, or 2.88%, to hit the mark of 7,182 points, said Sameh Gharib, head of technical research at Roots Stock Brokerage House. After holding above the first resistance level of 7,100 points, the next target is forecast to be the mark of 7,275 points, Gharib added.
Hesham Hassan, head of technical analysis at Acumen Securities, indicated that the bourse is still moving under the influence of Brexit’s seismic wave, which is likely to fade away once the main gauge shoots above 7,250 points or recoils to 6,750 points.
