By: Heba El-Kordy
Cairo – Mubasher: Sixth of October for Development and Investment’s (SODIC) stock rose to its highest level in almost 10 years, since May 2008, leading gainers on Wednesday.
By 12:25 pm Cairo time, SODIC's stock jumped 7.66% to EGP 23.6.
Around EGP 70.7 million in the stock’s turnover were exchanged through 2.9 million shares.
SODIC rose by 23.56% since the beginning of 2018 with a turnover of EGP 2 billion.
SODIC’s stock is likely to maintain the upward trend in the long-, medium-, short-term to target EGP 34 in the long term, Aljazira Capital said.
The stock has resistance at EGP 23.50 and EGP 24, and has support at EGP 19 and EGP 20, the investment bank highlighted, adding that SODIC is targeting significant levels range between EGP 28 and EGP 34 in the long- and medium-term.
Translated by: Mai Ezz El-Din
