Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to maintain the volatile trend on Tuesday, analysts told Mubasher.
The benchmark EGX30 index may retest 14,750 and 14,810 points if it breaks 14,700 points, while it has support at 14,603 and 14,481 points, head of the capital market committee at the African Economic Council Ayman Fouda highlighted.
Moreover, the small- and mid-cap EGX70 index has short-term resistance at 688 and 695 points, while it has support at 680 and 676 points, he indicated.
For his part, Osama Naguib, head of technical analysis at Arab Finance Securities, said that the Egyptian bourse would see sell-off as purchasing powers were weak for three consecutive trading sessions.
The benchmark may fall below the main support level of 14,600 points and deepen its losses to hover around 14,350, 14,150, and 14,120 points in the short term, Naguib added.
