Mubasher TV
Contact Us Advertising   العربية

Egypt bourse likely to test 8,050 mark – Analysts

Egypt bourse likely to test 8,050 mark – Analysts
Photo Credit: Arabianeye - Reuters

Cairo – Mubasher: The Egyptian Exchange is expected to continue its bullish performance today, said technical analysts, adding that the benchmark index may test 8,050 points, then 8,125 points.

The index rose on Tuesday by 0.79% or 62.02 points to close at 7,949.89 points.

 Breaking the resistance level 8,100 will open the door for further upside move, said Mona Hassan, chief analysts at MubsherTrade.

Ayman Fouda, head of capital market committee at African Economic Council, said, upon crossing the 7,900 level, the index may target resistance at 8050, then 8125 points and 8,260 points.

The analyst advised traders to partially take profit from rebounds and re-buy near support levels.