Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to see a sideways-to-rising performance on Sunday with the benchmark index testing 13,000 points, analysts told Mubasher.
EGS Brokers' market analyst Hoda El-Menshawy commented that the EGX30 index continues its uptrend on the short-term after maintaining its position above 12,950 points.
Passing the level of 13,057 points will boost the index towards further gains, the analyst said, highlighting that if the index fails to close above that level on Sunday, the index is likely to decline and break the uptrend.
Meanwhile, Shahd Raafat from Mubasher International for Financial Services commented that the EGX30 index concluded Thursday at a slight decline, but closed slightly below 13,000 points amid low traded volumes.
The low volumes indicate an extension of the sideways performance, with 12,700 being a stop-loss level, she added.
The EGX closed Thursday, the last trading session in March, at a slight rise with the EGX30 adding 0.06% or 7.15 points to 12,994.8 points.
