Egyptian stock alert
CLOSING UPDATE: Six of October Development and Investment continues significant uptrend, climbs 5.2% 19 October 2017 15:06 EET
NEWS BITES - MIDDLE EAST & NORTH AFRICA
This is an end of day Alert, produced after today's Egyptian market close. It concludes the BSS News Bites intra-day Alert series (summaries below).
Six of October Development and Investment, Egypt's 6th largest real estate company by market capitalisation, continued its significant uptrend and climbed 86.0 qirsh (or 5.2%) to trade at LE17.36 today. Compared with the EGX 30 Index which rose 123.5 points (or 0.9%) in the day, this represented a relative price increase of 4.3%.
Technical indicators complementing today's significant uptrend:
+ The positive 0.55 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.
+ The 2.5% discount to 12-month high of LE17.80 against the 51.6% premium to 12-month low of LE11.45 suggests the stock continues to push for new highs.
+ In the Egyptian market, the stock's relative price strength percentile is improving at 54 for 6 months, 63 for 3 months and 67 for 1 month.
+ In the last three months the stock has hit a new 52-week high once.
Afternoon Alert: Six of October Development and Investment keeps rising: up 16.4% in 3 days
19 October 2017 12:12 EET
Six of October Development and Investment (CA:OCDI) extended its gains on Thursday, rising an additional 90.0 qirsh (or 5.5%) to trade at LE17.40. Trading volume was 4.6 times average so far today. The shares have risen LE2.45 (or 16.4%) over the past three trading days vs. the EGX 30 Index which has risen 1.6% in the same period.
Six of October Development and Investment (CA:OCDI; CAI:OCDI; EY:OCDI)