Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to retest 16,400 points on Monday, analysts told Mubasher.
The main indices of the EGX are likely to shrink losses on today’s trades, head of capital market committee at the African Economic Council Ayman Fouda said.
The benchmark EGX30 index has resistance at 16,400 and 16,500 points and has support at 16,200 and 16,000 points, Fouda highlighted.
The EGX70 index has a short-term resistance at 909 and 918 points, while it has support at 885 and 878 points, he added.
Fouda recommended investors to hold onto their stocks, in line with performing quick trades between support and resistance levels to protect earnings and keep a percentage of liquidity in investment portfolios to add new purchasing positions near support levels.
