Cairo – Mubasher: Analysts have expressed mixed opinions on the performance of the Egyptian Exchange (EGX).
The benchmark EGX30 index has resistance 13,775 and 13,970 points and has support at 13,670 and 13,550 points, head of the capital market committee at the African Economic Council Ayman Fouda told Mubasher.
As for the small- and mid-cap EGX70 index, Fouda said it has resistance at 995 and 705 points and has support at 680 and 676 points.
For his part, Osama Naguib, head of technical analysis at Arab Finance Securities, said that the EGX30 index is likely to maintain seeing profit-taking.
The index could test main support between 13,700 and 13,600 points until it sees new purchasing power, Naguib added.
The index may break 14,100 points and test 14,500 and 14,800 points as the positive indicators have started to emerge recently, he indicated.
