Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to perform positively on Wednesday, analysts told Mubasher.
Osama Naguib, head of technical analysis at Arab Finance Securities, said that the EGX is likely to carry on the positive performance as the EGX30 index broke 14,800 points amid high traded volume.
The benchmark index targets 15,200 and 16,000 points in the medium term, Naguib noted, adding that it has support at 14,600 and 14,500 points.
Despite the positive expectations, the index may see sell-offs between 15,000 and 15,200 points, he indicated.
For his part, head of technical analysis department at Arabeya Online Michael Armia said that the EGX would continue the bullish trend this week.
The EGX30 index has main support at 14,490 and 14,127 points and has main resistance at 15,245, 15,550, and 16,000 points, Armia highlighted.
