Al-Fiki, a stock market expert, said last week that a strong wave of buying by Egyptian and foreign investment institutions and funds followed a wave of violent profits that pushed the index to break the 13,000 points.
Al-Faki added in a special announcement to Al-Dustour that the indices of the Egyptian stock market were all closed on a collective rise of indicators, when the index closed the main level at 13,732 points, after breaking to 13500 points last week.
Al Fiki noted that the portfolios of the financial institutions have become empty of shares after the sale in succession over the past six months, and therefore the volume of trade has increased to more than £ 1 billion in most of the week's meetings, in addition to the length of the consolidation period at 13,000 levels. The stock, which does not represent any real value, and the second weakness of the decline in support levels holding near 13000 points with volumes below the level of half a billion pounds, which were indications of the end of the correction where he lost an evil commodity of nearly 5400 points.
He noted that the poor conditions that confirm the deterioration of these areas, and this is evident during the week.
The capital market expert expects the central index to reach near 13800-13850 next week, and it is also expected that these levels will not be the maximum limit of the recession. We expect a slight and noticeable gain in these levels and complete the reversal to 14,000 levels. Stock prices are attractive to buy and have not achieved anything yet.
The index of small and medium-sized stocks was not significantly different from the main index, and reached levels of resistance in 703 and skip this level pushing us to 715 levels this is expected to occur next week.