Egyptian stock alert

EGYPT

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:

Undervaluation:

+ Dividend yield of 1.5% [0.5%]

TODAY'S ALERT

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)

ISIN: EGS3E181C010

PermID: 4295866290

Source: www.BuySellSignals.com