Cairo – Mubasher: Egyptian Stock Exchange’s indices are likely to keep moving sideways through the upcoming three trading sessions.
EGX30 will probably swing in flat movements from 5690 to 6000 points or from 6160 to 6240 points, said Ahmed Abdel-Hamid, analyst.
Yesterday, EGX30 rose 0.96 points to 6066.54 points, gaining 57.69 points.
EGX30 are most likely to test the resistance level of 6135, which paves the way, if safely crossed that level, to reach the level of 6300 and then 6500 points respectively, said Head of Research at Egypt’s NAEEM Brokerage
Ibrahim Al-Nimr clarified that the main index, if failing to settle above the support level of 5,650 points, may retreat to 5650 points.
EGX70 fell from its resistance of 360 points and would decline further to its support of 339, Al-Nimr said, noting that if the index rebounds above this support level, it will likely rise further to its resistance of 360. If the index crosses this resistance, it will target the next resistance of 385, he added. At last, he advised investors to hold their equities
