Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to maintain the volatile trend on Wednesday, analysts told Mubasher.
The benchmark EGX30 index has as short-term resistance at 14,750 and 14,810 points and has support at 14,603 and 14,480 points, head of the capital market committee at the African Economic Council Ayman Fouda highlighted.
Moreover, the small- and mid-cap EGX70 index has short-term resistance at 688 and 695 points, while it has support at 677 and 669 points, Fouda indicated.
For his part, Osama Naguib, head of technical analysis at Arab Finance Securities, said that despite the negative performance, most of the stocks are likely to rise as the benchmark is hovering around the main support level of 14,600 points.
The EGX30 index is expected to carry on the sideways trend and move between 14,600, 15,200, and 15,300 points as long as the index is above 14,600 points, Naguib added.
