Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to carry on the bull-run on Thursday, the last trading session of January, analysts told Mubasher.
Ayman Fouda, head of the capital market committee at the African Economic Council, projected that the EGX would carry on the upward trend in the short-term.
The benchmark EGX30 index is still moving sideways in the medium-term, Fouda said, adding that the index has a short-term resistance at 14,150 and 14,260 points and has support at 14,005 and 13,930 points.
Meanwhile, the small- and mid-cap EGX70 index has a short-term resistance at 695 and 705 points, and support at 677 and 669 points.
For his part, head of technical analysis at Arab Finance Securities Osama Naguib said that the EGX30 index hovers around 14,100 points amid high trading volume for the third consecutive session.
The EGX30 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, Naguib highlighted.
