Cairo - Mubasher: The Egyptian Exchange (EGX) is expected to see a corrective movement on the medium term, where the benchmark index EGX30 targets the level of 6,900 points, according to analysts.
The benchmark is likely to move upwards to the level of 6,870 points, said Ehab Saeed, head of research at Osoul Securities.
He added that the index will target the levels of 6,900 and 7,250 points on the medium term, as part of the correction.
The main gauge closed on Monday at level of 6,762 points, in an attempt to overcome the resistance area of 6,700 and 6,900 points, said Mona Hassan, chief technical analyst at MubasherTrade.
Thus, investors are advised to go for profit taking, as long as the benchmark didn't break below the aforementioned resistance area, noted Hassan.
Egypt's bourse indices closed on mixed note on Monday, as the benchmark added 54.6 points or 0.81% to close at the level of 6,762.26 points, its highest level in two weeks.
