Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to continue its positive performance on Tuesday to retest 15,500 points, analysts told Mubasher.
The benchmark EGX30 index has resistance at 15,600 points and has an upside potential at 15,800 points, economist and capital market expert Safaa Fares said.
The index has support at 15,300 points and a downside potential at 15,100 points, Fares added.
The EGX70 index has resistance at 868 points and an upside potential at 880 points, while it has support at 855 points and downside potential at 846 points, she continued.
For his part, Ayman Fouda, head of capital market committee at the African Economic Council, said that the main indices of the EGX are likely to maintain the positive performance although the EGX30 index fell slightly by the end of yesterday’s trading session.
The EGX30 index is projected to retest short-term resistance at 15,533 points today to target 15,575 and 15,625 points, Fouda commented, pointing out that the index has support at 15,360 and 15,200 points.
The EGX70 index has a short-term resistance at 866 and 878 points, while it has support at 855 and 844 points, he indicated.
Fouda recommended investors to hold onto their stocks, in line with quick trading and keeping some liquidity in investment portfolios to recreate purchasing powers near support levels.
