EGX100 test two support level at 2614.774 and 2681.773 in the last 7 weeks but as seen the price rebound 2765.140 making a move towards retracement.
we may reach 2944.187 as a first target then the 3156.352 after expected correction from Fibo 0.5.
AS EGX will get soon some new IPO after the pressure of the interest rate hike of the CBE to control inflation.
The monthly core inflation, computed by the CBE, recorded 2.4% in April 2022, down from 3.1% in March 2022, and 0.7% in April 2021.
Accordingly, the annual core inflation increased in April 2022, compared to 10.1% in March 2022.
The current interest rate:
Actual: 11.25
Previous: 9.25
lowest: 8.25
A devaluation in the Egyptian Pound and the Fed hikes make a large immigration of investment capital during the past three months.
but the ability of market recovery still exist but it will take time.
we may reach 2944.187 as a first target then the 3156.352 after expected correction from Fibo 0.5.
AS EGX will get soon some new IPO after the pressure of the interest rate hike of the CBE to control inflation.
The monthly core inflation, computed by the CBE, recorded 2.4% in April 2022, down from 3.1% in March 2022, and 0.7% in April 2021.
Accordingly, the annual core inflation increased in April 2022, compared to 10.1% in March 2022.
The current interest rate:
Actual: 11.25
Previous: 9.25
lowest: 8.25
A devaluation in the Egyptian Pound and the Fed hikes make a large immigration of investment capital during the past three months.
but the ability of market recovery still exist but it will take time.
Trade closed: target reached