By: Heba El-Kordy

Cairo – Mubasher: Analysts and capital market experts have expressed different opinions over the Egyptian Exchange’s (EGX) performance on Tuesday’s trading session.

The benchmark EGX30 index is likely to maintain its bull run as it has resistance at 15,300 points and has an upside potential at 15,500 points, economist and capital market expert Safaa Fares said.

The analyst added that the EGX30 index has support at 15,050 points and has a downside potential at 14,900 points.

The small- and medium-cap EGX70 index has resistance at 862 points and an upside potential at 871 points, while it has support at 844 points and a downside potential at 835 points, she highlighted.

For his part, head of technical analysis department at Arabeya Online Michael Armia said that the EGX30 index has been able to rise on Monday’s trading session and broke resistance at 15,150 points to eliminate the negative impact of the previous sessions.

The EGX30 index is likely to maintain moving upwardly in the short, medium and long-term, Armia indicated.

The index has resistance at 15,365, 15,575, and 15,800 points, while it has support at 15,000, 14,850, and 14,718 points, he said.

Meanwhile, the EGX70 index is targeting 885 and 942 points in the medium and long-term, respectively, he pointed out.

Furthermore, Ayman Fouda, head of capital market committee at the African Economic Council, expected the EGX to carry on the volatile sideways trend on Tuesday until new market-boosting catalysts push indices and stocks above their main resistance levels.

The EGX30 has a short-term resistance at 15,170 points, and it may test 15,300 points afterward, he pointed out, adding that the index has support at 15,067 and 14,930 points.

Translated by: Mai Ezz El-Din