Egyptian stock alert
CLOSING UPDATE: Arabian Cement up 3.3% in 2 days 18 January 2018 15:05 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).
Arabian Cement extended its gains on Thursday, rising an additional 11.0 qirsh (or 1.4%) to trade at LE8.11.
Technical indicators complementing today's significant uptrend:
+ The price increased 0.7% in the last week and 1.4% in the last month.
Arabian Cement today is at a discount of 32.8% to the 12-month high of LE12.07 on 11 Apr, 2017. It is at a premium of 18.7% to the 12-month low of LE6.83 on 27 Aug, 2017.
The negative 0.01 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.
The stock has underperformed 85% of the Egyptian market over the past 6 months.
Afternoon Alert: Arabian Cement in 2nd consecutive rise, nears two-month high
18 January 2018 12:12 EET
Arabian Cement Company (CA:ARCC) extended its gains Thursday, rising an additional 19.0 qirsh (or 2.4%) to trade at LE8.19. The stock increased 1.91% on Wednesday bringing its 2-day rise to 4.3%. It is now approaching its 35-day high of LE8.20.
Arabian Cement Company (CA:ARCC; CAI:ARCC; EY:ARCC)