Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to open Sunday’s trading session in red territory until liquidity push blue-chip stocks again, analysts told Mubasher.
The benchmark EGX30 index has a short-term resistance at 16,041 and 16,100 points and has support at 15,781 and 15,470 points, head of capital market committee at the African Economic Council Ayman Fouda said.
Meanwhile, the small- and mid-cap EGX70 index has a short-term resistance at 785 and 796 points and has support at 770 and 765 points, Fouda indicated.
For his part, customer relations manager at Arabeya Online Michael Mamdouh Naguib said that the EGX has maintained correction movements below 16,000 points last week.
He pointed out that the EGX30 index is expected to break 16,000 and 16,100 points this week.
The index has a short-term support at 15,781 and 15,500 points and has resistance at 16,100 points, Naguib highlighted.
Moreover, the EGX70 has support at 767 and 750 points and has resistance at 800 and 820 points, he added, noting that the index has been performing negatively since March.
