Cairo – Mubasher: Stock market analysts expected the Egyptian Exchange (EGX) to move sideways this week until positive catalysts emerge, noting that the benchmark EGX30 index is likely to test the level of 12,750 points.
Technical analyst Ayman Fouda expected the main index to face resistances at 12,722, 12,745, and 12,840 points, and to have support at 12,525 and 12,433 points.
The small- and medium-sized enterprises index EGX70 is forecast to face resistances at 597 and 601 points, and has supports at 588 and 582 points, Fouda added.
Meanwhile, market analyst Sameh Ghareeb suggested that the EGX30 index is likely to test the resistance level of 12,750 points this week, then move upward to 13,000 points.
The main gauge rose on Thursday by 1.47% or 184.24 points to the level of 12,709.93 points.
