Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to maintain the sideways trend on Tuesday, analysts told Mubasher.
The benchmark EGX30 index may to test 15,050 and 15,000 points today and see rebound once liquidity enters blue-chip stocks, head of the capital market committee at the African Economic Council Ayman Fouda said.
The EGX30 index has a short-term resistance at 15,200 and 15,260 points, Fouda highlighted.
Meanwhile, the small- and mid-cap EGX70 index has resistance at 680 and 686 points, and has support at 668 and 660 points, he added.
For his part, Osama Naguib, head of technical analysis at Arab Finance Securities, said that the EGX30 index is still facing selling pressures after nearing resistance at 15,300 points.
The benchmark may retest 15,300 points if the heavyweight Commercial International Bank (CIB) settles above EGP 71.5, he noted.
He also pointed out that the index could see further gains and move towards 15,800 and 16,000 points if it breaks the main resistance level.
