Cairo – Mubasher: The Egyptian Exchange (EGX) is forecast to deliver a positive performance during 15-19 January.
Foreign buying appetite will likely keep boosting EGX main index thanks to the pound’s liberalization, said Hesham Hassan, head of technical analysis at Acumen Securities.
“Such momentum will likely push the index to target the 15,000 zone on the mid-term outlook. While having support at 12,950-400, the main gauge is to face resistance at the 13,525-14,000 zone”, Hassan added.
According to MubasherTrade Research, the benchmark index is presently facing the next resistance level at 13,500 points after ending the previous week at 13,223 points
“Trading is recommended as the index holds above 13,000”, the research agency concluded.
On Thursday, the bourse extended gains to the third consecutive day after the main index EGX30 closed 1.03% higher to 13,223.9 points.
