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The EGX30 Index plunged at the beginning of Wednesday’s session reached 31,566 points, before wiping most of the early loses, and closed at 31,744 points accompanied by average volumes.
Yesterday the Index managed to rebound after three consecutive declining sessions with low volumes, currently the way is paved to resume the upward move.
In this regard, the Index is heading to retest the major resistance level at 32,184 points which has been in place during the last five months.
Worth noting that today’s session close will have considerable significance as it will highlight new signals on the weekly, monthly and the first-quarter closure.
Short term investors are advised hold and trail the protective stop below yesterday’s lows according to each stock.
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