UK stock alert
Afternoon Alert: SIMEC Atlantis Energy accelerates slide, now down 4.7% in 2 days 17 August 2018 15:58 BST
NEWS BITES - EUROPE
SIMEC Atlantis Energy Ltd (L:SAE) is down GBX1.25 (or 4.7%) over the past two trading days. After falling 1.9% on Thursday, the stock fell 2.9% on Friday to trade at GBX25.50 vs. the FTSE 100 Index that is up 0.3% in the same period.
Current indications of bearish signals that support the trend in the unusual trading:
+ The negative 1.49 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.
+ The 3.0% premium to 12-month low of GBX24.75 against the 44.9% discount to high of GBX46.25 suggests the stock continues to push for new lows.
+ In the last one month the stock has hit a new 52-week low fourteen times and in the last three months seventeen times, pointing to a significant downtrend.
Tobin's Q Ratio is 0.8. Compared with the rest of the market the stock is undervalued.
Fundamental measures by comparison with the sector average [in brackets] indicate:
Price to Book of 3.6 [5.0]
SIMEC Atlantis Energy Ltd (L:SAE; LON:SAE; LN:SAE)