Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to perform positively on Monday, analysts told Mubasher.
Ayman Fouda, head of the capital market committee at the African Economic Council, projected that the EGX would carry on the upward trend in the second trading session of the week.
The benchmark EGX30 index has a short-term resistance at 14,481 and 14,635 points and has support at 14,150 and 14,005 points, Fouda added.
Meanwhile, the small- and mid-cap EGX70 index has a short-term resistance at 695 and 705 points, and support at 677 and 669 points, he said.
The EGX30 index closed Sunday’s trading session 0.84% up at 14,245.36 points on the back of the heavyweight Commercial International Bank (CIB).
For his part, head of technical analysis at Arab Finance Securities Osama Naguib said that the EGX30 index hovers around 14,100 points amid high trading volume for the fifth consecutive session.
The EGX30 index is hovering around 14,500 and 14,600 points and is expected to retest resistance at 14,800 points, Naguib highlighted.
The benchmark index has main support at 13,600 and 13,450 points, but it will continue seeing support at 13,300 and 13,225 points in the meantime, he added.
