By: Heba El-Kordy
Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to maintain its positive performance, analysts told Mubasher.
The benchmark EGX30 index is still targeting the level of 14,000 points on the short level, head of technical analysis at Prime Securities Mohamed Khedr said.
Khedr expected that some profit-taking may appear near resistance level of 14,000 and 14,200 points.
At the level of stocks’ performance, he forecasted a mixed performance due to the latest uptrend move, which backed small-sized stocks more than the blue chips, he added.
The analyst recommends investors to trade on each stock separately.
Moreover, the economist and market expert Safaa Fares said that the EGX30 index is carrying on its bullish trend.
The EGX30 index has resistance at 14,050 points, Fares added, pointing out that it aims to break through 14,200 points and see support at 13,870 points.
The small- and medium-sized enterprises EGX70 index has resistance at 790 points, targeting 805 points, while it has support at 774 and 765 points, she highlighted.
At the level of the blue chips, the market expert noted that Madinet Nasr Housing and Development’s (MNHD) stock has resistance at EGP 10.55, targeting EGP 11.20, and has support at EGP 9.80.
Translated by: Mai Ezz El-Din
