HC Egypt Technical Analysis Daily Report 5 June 2008

Trend Status Summary

Trend Status            Current               Forecast

MT trend                  Bullish                 Bullish

ST trend                   Flat                    Bullish

Previous Session Highlights

The market witnessed a strong positive performance on Wednesday indicating a growing interest among buyers in the market. As a result, the CASE30 closed at 11,072, while volumes reached 28.2 million shares.

Update on Expected Scenario

Our current analysis suggests that the market is heading upwards towards 11,300, 11,650 and 11,900. (further confirmation of this scenario is provided at the actual break and close above the 11,1000 (today).

Update on Suggested Trading Tactic

Accordingly, we advise investors who have already locked-in some short term profits to hold remaining portions.

An ideal portfolio exposure at this point would be 65% to 75% in equity.