Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to extend positive performance on Wednesday triggered by the gains of the market’s leading stocks, technical analysts told Mubasher.
“The benchmark index EGX30 is likely to test the levels of 6,132 and 6,320 points,” said Ayman Fouda, head of capital market committee at the African Economic Council.
The benchmark will gain support at the levels of 5,880 and 5,940 points, noted the analyst.
As for the small and mid – caps index EGX70, Fouda pointed out that it will see resistance at the levels of 354 and 358 points, while it will gain support at the levels of 344 and 340 points.
In the same vein, Mona Hassan Chief technical analyst at Mubasher trade said she expects the market to resume sideways trend through the upcoming sessions, as the benchmark will move between the levels of 5,800 and 6,100 points.
EGX indices closed on mixed note on Tuesday, as the benchmark index EGX30 moved above the level of 6,000 points after it added 1.73% or 101.93 points, to close at 6,008.85 points.
