Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to carry on the upward trend on Tuesday, analysts told Mubasher.
Ayman Fouda, head of capital market committee at the African Economic Council, projected that the benchmark EGX30 index is targeting resistance at 14,005 points, and has support at 13,835 and 13,622 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 674 points, he added.
For his part, head of technical analysis at Arab Finance Securities Osama Naguib said that the EGX30 is hovering around 14,000 and 14,100 points.
The EGX closed Monday’s trading session in green territory amid high trading volume, which is a positive signal, Naguib indicated.
He expected the EGX30 to continue rising to 14,100 points to target 14,600 and 14,800 points, pointing out that the index has support at 13,600 and 13,450 points.
