Cairo – Mubasher: Egypt’s bourse benchmark index EGX30 is anticipated to test the levels of 6,260 and 6,300 points, technical analysts told Mubasher.
The main gauge will shift to upside trend from sideways trend, if it succeeded in moving above the level of 6,300 points, said Waleed Helal Deputy Director at Egyptian group for securities.
The benchmark’s movement above the resistance level of 6,120 points will push it towards the level of 6,260 points, added the analyst.
“The investors are advised to enter the market near the support levels in respect to the benchmark index”, said Ibrahim El Nemr, head of technical analysis at Naeem Brokerage, noting that the level of 4,546 points is seen as stop losses level.
As for the small and mid-caps index EGX70, the investors are advised to follow keep strategy, where the level of 755 points is considered stop level zone, added El Nemr.
The benchmark advanced 1.26% or 76.88 points to close at 6,156.01 points on Sunday.
