Egyptian stock alert
CLOSING UPDATE: Egypt Aluminum increased 1.5% - outperforming 95% of stocks 25 July 2017 15:07 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).
Egypt Aluminum, Egypt's 2nd largest basic resources company by market capitalisation, has increased 95.0 qirsh (or 1.5%) today to trade at LE64.95 and has outperformed 95% of the market in the past week. A price rise combined with a high relative strength is a bullish signal. Compared with the EGX 30 Index which rose 1.3 points (or 0.01%) in the day, this represented a relative price increase of 1.5%.
Technical indicators complementing today's significant uptrend:
+ The positive 6.79 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.
+ The 5.9% discount to 12-month high of LE69.0 against the 599.1% premium to 12-month low of LE9.29 suggests the stock continues to push for new highs.
+ In the last three months the stock has hit a new 52-week high seven times, pointing to a significant uptrend.
+ The price soared 13.7% in the last week and 79.1% in the last month.
Fundamental measures by comparison with the sector average [in brackets] indicate:
+ Dividend yield of 1.5% [0.5%]
Afternoon Alert: Egypt Aluminum drops 2.3%, leads Basic resources sector lower
25 July 2017 12:12 EET
Egypt Aluminum (CA:EGAL) has dropped 2.3% to trade at LE62.55 vs. the Basic resources sector which weakened 41.2 points (or 1%) to 4,066.7. Representing a weighting of about 31.3% of the sector, the stock accounted for 70.9% of today's loss. Trading volume was 19% of average so far today.
Egypt Aluminum (CA:EGAL; CAI:EGAL; EY:EGAL)