Cairo – Mubasher: The benchmark EGX30 index of the Egyptian Exchange (EGX) is expected to move upward to the level of 13,000 points on Sunday, analysts told Mubasher.
Technical analyst Sameh Ghareeb said that the EGX30 index will move upward after gaining about 543 points last week, and nears the mark of 13,000 points.
Ghareeb suggested that any correction movement is a good chance for purchasing and reforming positions, noting that the nearest support level for the index is 12,600 points, while it faces resistances at 13,000 points and 13,250 points.
The small- and medium-sized enterprises index EGX70 faces resistance at 529 points, the analyst added.
Market analyst Shahd Raafat suggested that the EGX30 index is expected to target the level of 13,400 points.
The benchmark EGX30 grew 0.93% on Thursday to 12,853.27 points.
