Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to perform positively this week, analysts told Mubasher.

The benchmark EGX30 index closed Sunday’s trading session 1.43% up above 15,100 points, head of technical analysis at Naeem Brokerage Ibrahim El Nemr said.

Accordingly, the index will target resistance at 15,650 and 16,000 points, El Nemr added.

He recommended investors in the EGX to be selective as the stop-loss limit us at 14,700 points.

Ayman Fouda, head of the capital market committee at the African Economic Council, projected the EGX to maintain the bullish trend this week.

The EGX30 index is moving upwardly in the short and medium terms and has resistance at 15,350 and 15,500 points, Fouda highlighted.

Fouda added that the index has support at 15,090 and 14,810 points, pointing out that it would target 15,750 if it breaks main resistance points.

The small- and mid-cap EGX70 index is moving upwardly in the short-term, sideways in the medium-term, and downwardly in the long-term, he indicated.

The EGX70 index has a short-term resistance at 730 and 745 points, while it has support at 715 and 705 points, he said.

For his part, head of technical analysis at Arab Finance Securities Osama Naguib said that the EGX30 has been hovering around 15,200 points amid continued purchasing powers and high trading volume that would back the EGX in the coming sessions.

The EGX30 index is targeting 15,600 and 16,000 points, while it has main support at 14,800, 14,600, and 14,500 points, Naguib noted.