Egypt’s EGX to maintain positive performance Tuesday

The Egyptian Exchange (EGX) is likely to carry on the positive performance on Tuesday, analysts told Mubasher.

The benchmark EGX 30 index is expected to maintain the upward trend to retest 13,775 and 13,850 points, head of capital market committee at the African Economic Council Ayman Fouda said.

The EGX 30 index has main support at 13,525 and 13,470 points, Fouda added.

Meanwhile, the small- and mid-cap EGX 70 index has a short-term resistance at 705 and 712 points and has support at 695 and 688 points, he indicated.

For his part, Osama Naguib, head of technical analysis at Arab Finance Securities, said that the EGX 30 index has main resistance at 13,950 and 14,100 points.

The index may face sell-offs again at the main resistance levels, Naguib noted, pointing out that it has support at 13,400 and 13,150 points.

He recommended investors to benefit from any rise in open positions or to trade quickly at support levels and stop-loss limits.