Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to continue upward trajectory in the coming period and targets the level of 14,840 points, analysts told Mubasher.
The benchmark EGX30 index added more than 1% during Sunday's session for the first time in September after a steep drop in the previous two weeks, head of technical analysis at Naeem Brokerage Ibrahim El Nemr said.
If the EGX30 remains hovering over 14,000 pts, it may hit 14,500 points and have resistance at 14,840 points, Al-Nemr added.
Sunday's trading activities were positive, boosted by Arab and foreign buying, head of capital market committee at the African Economic Council Ayman Fouda said.
On Sunday, the EGX closed in the green after it benchmark jumped 177.77 points, or 1.26%, to 14,261.25 points.
