Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to maintain the positive performance on Tuesday, analysts told Mubasher.
The benchmark EGX30 index is expected to carry on rising and break 13,000 points amid higher trading volume, head of technical analysis at Arab Finance Securities Osama Naguib said.
Higher trading volume indicates that purchasing power may push up the index above 13,400 points, Naguib pointed out.
He highlighted that the EGX30 index has main resistance at 13,400 points and is likely to see sell-offs near this level.
For his part, Ayman Fouda, head of capital market committee at the African Economic Council, said that the EGX may maintain the bull run on Tuesday amid institutional purchases.
The EGX30 has a short-term resistance at 13,350, 13,470, and 13,555 points, while it has support at 13,074 and 12,950 points, Fouda added.
As for the small- and mid-cap EGX70 index, he indicated it has a short-term resistance 682 and 688 points, while it has support at 670 and 664 points.
