Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to maintain the recent upward trend on Monday to hover around 14,100 and 14,800 points, analysts told Mubasher.
The benchmark EGX30 index has surpassed resistance at 13,850 points in Sunday’s trading session to target 14,100 points, head of technical analysis at Arab Finance Securities Osama Naguib said.
The index may target 14,500 and 14,800 points if it breaks resistance at 14,100 points, Naguib added.
He also indicated that the index has support at 13,650, 13,450, and 13,400 points.
For his part, head of capital market committee at the African Economic Council Ayman Fouda said that the EGX is likely to continue the positive trend.
The EGX30 index may retest resistance at 13,975 and 14,050 points, while it has support at 13,775 and 13,550 points, Fouda projected.
As for the small- and mid-cap EGX70 index, he noted that it has resistance at 705 and 712 points, and has support at 688 and 682 points.
