Cairo – Mubasher: The Egyptian Exchange is likely to witness a light and healthy wave of profit-taking on Wednesday, analysts told Mubasher.
The main index slightly declined to 8,387 points yesterday, said market analyst at Mubasher International for Securities Shahd Raafat.
“Over the medium term, the view is still bullish, which means that the current correction can be used in accumulation as long as the index holds above 7,993”, Shahd added.
Hesham Hassan, head of technical analysis at Acumen Securities, also described yesterday’s decline as “a natural downturn” that will likely give room for investors who wait for buy shares at less prices.
“Although the main index may drift lower to 8,250 and 8,000 points on this expected correction, the outlook remains positive as long as moving above 8,000 point”, the analyst concluded.
