By: Heba El-Kordy
Cairo – Mubasher: The Egyptian Exchange (EGX) is forecasted to see rebound during Thursday’s trading session, analysts told Mubasher.
Safaa Fares, economist and capital market expert, said that the benchmark EGX30 index has resistance at 13,780 points.
Fares highlighted that the EGX30 index may target an upside potential at 14,000 points and support after breaking resistance.
After breaking support, the EGX30 index may target a downside potential at 13,440 points, Fares pointed out.
The EGX70 index has resistance at 806 points, the economist indicated, adding that may target an upside potential at 820 points and support at 794 points.
The EGX30 index is expected to carry on rebounding and see resistance at 14,000 points due to higher trading values, head of technical analysis at Prime Securities Mohamed Khedr said.
Khedr noted that there is no clear strategy to deal with the market as a whole due to blue chips’ mixed performance.
Translated by: Mai Ezz El-Din
