Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to maintain the positive trend on Tuesday, analysts told Mubasher.
The benchmark EGX30 index has short-term resistance at 15,100 and 15,320 points, while it has support at 14,810 and 14,750 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 680 and 677 points, he indicated.
For his part, Osama Naguib, head of technical analysis at Arab Finance Securities, said that the Egyptian bourse would resume the upward trend backed by a limited number of blue-chip stocks that broke main resistance of 14,900 points with high trading volume.
The EGX30 index is still moving sideways above the main support level of 14,600 points and below main resistance at 15,300 points, Naguib added.
The benchmark may retest 15,200 and 15,300 points if the heavyweight Commercial International Bank (CIB) settled above EGP 70.
