Cairo – Mubasher: Egypt’s stock market is expected to continue its rebound on Monday, provided that liquidity comes at high levels, according to technical analysts.

The benchmark index EGX30 will likely target higher levels upon shooting above the secondary resistance level of 7750 points, said Mona Hassan, chief analyst at MubasherTrade.

The index trimmed its early gains on Sunday, ending 0.97% or 73.96 points higher at 7691.35 points.

Ayman Fouda, head of capital markets committee at African Economic Council, expected the market to extend its rise on Monday, provided that blue chips, mainly CIB, see increased trading activity.

The analyst defined resistance levels at 7700 points, then 7780 points and support levels at 7620 then 7580 points.

He advised investors to maintain their equities, except for stocks that reached stop-loss points.