EGX 30 Likely To Hit 5500 Pts Level On Short Run: HC

By Yomna Yasser On Aug 28, 2012

Cairo-based HC Securities, said the Egyptian Exchange benchmark is seen moving up in the short run due to approaching resistance levels of 5100 – 5200 pts.

HC mentioned in its report that the next target stands at 5500 pts.

The report also added that after gains the market witnessed through last week, benchmark started this week moving upwards closing at 5281 pts on Monday.
HC recommended investors to curb the losses at the level of 4900 pts and make use of the anticipated upward movement.