Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to carry on the positive performance on Tuesday, analysts told Mubasher.
Ayman Fouda, head of the capital market committee at the African Economic Council, projected that the EGX would continue the upward trend today, while some stocks would see partial profit-taking.
The benchmark EGX30 index has a short-term resistance at 14,481 and 14,635 points and has support at 14,250 and 14,150 points, Fouda added.
Meanwhile, the small- and mid-cap EGX70 index has a short-term resistance at 688 and 695 points, and support at 682 and 675 points, he said.
For his part, head of technical analysis at Arab Finance Securities Osama Naguib said that the EGX30 index broke its target of 14,100 points, while trading volume snapped a two-day low.
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.
