Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to test the levels of 8,300 and 8,450 respectively amid some profit taking, technical analysts told Mubasher.
The availably of positive catalysts may support the market’s upside trend, said Ayman Fouda, head of capital market committee at the African Economic Council.
“Sunday’s session witnessed positive performance across all indices on remarkable buying activity by institutions,” added Fouda.
The benchmark index EGX30 broke above the level of 8,200 points which is considered a good signal, said Fouda adding that EGX30 will see resistance at the levels of 8,300 and 8,480 points respectively, while will gain support at the levels of 8,130 and 8,050 points.
EGX30 closes at 8241.16 points on Sunday after gaining 1.29% or 104.7 points.
