Cairo – Mubasher: The Egyptian Exchange (EGX) is waiting for momentums and positive data that will probably end the current flat movement, said analysts.

The current sideways trend is likely to end if the stock market sees new momentums that will push the benchmark to the 7,300 – 7,700 area, said Ahmed Abdel-Hamid, Managing Director of Watheeqa Securities. If otherwise, the jittery movement is likely to continue as liquidity ratio will probably remain weaker.

Ibrahim Al Nemer, Head of technical analysis at Naeem Brokerage, said the main gauge is moving upwards and downwards between the support level of 7,300 points and the resistance mark of 7,700, which will probably, if broken, pave the way for testing the mark of 8,000 points.

Yesterday, the main index closed 0.60% lower to 7,486.13 points.