Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to maintain the upward trend on Monday, analysts told Mubasher.
Ayman Fouda, head of capital market committee at the African Economic Council, projected that the benchmark EGX30 index is targeting 14,005 points, and has support at 13,580 and 13,444 points
Meanwhile, the small- and mid-cap EGX70 index has a short-term resistance at 688 and 695 points, and has support to 677 and 669 points, he added.
For his part, head of technical analysis at Arab Finance Securities Osama Naguib said that the EGX30 could break the sideways trend above 13,600 points amid high trading volume.
The EGX30 is expected to carry on the bullish trend to test 14,000 and 14,100 points, Naguib indicated, adding that sell-offs may weigh on the index to resume the downward trend.
In case trading volume rose, the index could break 14,100, 14,600, and 14,800 points, he noted.
