Cairo – Mubasher: The Egyptian Exchange (EGX) expected to continue the sideways trend on Tuesday, technical analysts told Mubasher.
The benchmark index EGX30 is likely to extend its movement between the levels of 7,900 and 8,050 points on the short-run especially after its positive performance on Monday where it maintained its position above the level of 7,900 points, Ahmed ELBagoory, technical analyst at Okaz brokerage said.
In the same vein shahd Raaft, technical analyst at Mubasher International said” The benchmark was able to keep its position above the level of 7,900 on the short run supported by the heavy weighted Commercial International Bank.”
The level of 8,060 is considered the nearest upcoming resistance level, while the level of 7,900 is considered the stop losses level on the short-run, added Raaft.
EGX closed on positive note on Monday amid buying activity by Arab investors, where the market capitalization gained EGP 1.4 billion.
