Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to see a corrective movement during Thursday’s session, after which it will bounce back at close, said Ehab Said, head of technical analysis at Osool Securities Brokerage.
The market indices slipped on Wednesday, reversing a five-session winning run, due to selling pressures from national and foreign traders. Market capitalisation lost around EGP 3 billion ($337 million).
Mohamed Ismail, technical analyst at Golden Hand Securities, said the expected decline today would be a normal correction to re-test 7665 and 7500 resistance levels that were broken earlier and became strong support levels.
The market outlook remains positive, said the analyst, adding that the main index continues to target the 8,200 mark.
