HC Egypt Technical Analysis Daily Report 28 May 2008

May 27 Trading Session Highlights

 

Trend Status Summary

Trend Status                 Current                 Forecast

MT trend                       Bullish                    Bullish

ST trend                        Bullish                   Bullish

 

Previous Session Highlights

The market witnessed a positive performance for

the third day this week, indicating increased

buying interest. As a result, the CASE30 closed at

10,999, while volumes reached 59.3 million

shares.

 

Update on Expected Scenario

We continue to believe that the CASE30 index is

on its way to a recovery. We expect the recovery

to take the index up to the 11,100 – 11,300

range, at which the market may find some profit

taking activity.

Update on Suggested Trading Tactic

Accordingly, we advise those who have already

realized some of their short term profits to hold

remaining portions of their current positions.