Mubasher: The Egyptian Exchange (EGX) is likely to move sideways on Monday, analysts told Mubasher, expecting profit-taking to come to an end.
The main index is forecast to test the resistance of 11,500 points while having support at 11,030 points, said market analyst Ahmed Al-Bagory, anticipating traders to start building positing after a wave of profit-taking.
Meanwhile, MubasherTrade Research said," the current correction wave may be extended till 11,000."
Market analyst Hoda Al-Menshawi indicated the benchmark index will bounce back to the bull-run if breaking above 11,535 points. Meanwhile, the stop-loss mark is at 11,022 points, she added.
The Egyptian Exchange (EGX) indices declined collectively on Sunday amid selling pressures by local and Arab investors.
The benchmark index EGX30 went down 1.82% or 207 points to close at 11,145.9 points.
