Egyptian stock alert

EGYPT

Afternoon Alert: Egyptian for Developing Building Materials continues significant uptrend, climbs 4.0% 21 January 2018 12:13 EET

NEWS BITES - MIDDLE EAST & NORTH AFRICA

Egyptian for Developing Building Materials (CA:EDBM) continued its significant uptrend and climbed 36.0 qirsh (or 4.0%) to trade at LE9.25 today.

SECTION 1: The past week

Current indications of bullish signals that support the trend in the unusual trading

1.1 At a glance

Weekly: Egyptian for Developing Building Materials soars 13.8% in 3 weeks; nears four-month high January 18, 2018 14:30 EET

Egyptian for Developing Building Materials (CA:EDBM), Egypt's 21st largest Construction and Materials company by market cap, traded near it's four-month high. It lifted 89.0 qirsh (or 11.1%) in the past week to close at LE8.89. The stock soared for a third week recording a rise of LE1.08 (or 13.8%) in the past three weeks. Compared with the EGX 30 Index which rose 394.0 points (or 2.6%) in the three weeks, this represented a relative price increase of 11.2%. This has been propped up by high volume of 1.9 times average for the week. In the past week the market cap has jumped LE4.9 million.

1.2 5-day Recap

Egyptian for Developing Building Materials outperformed the EGX 30 index in 3 out of 5 days.

[Volume Index (VI); 1 is average]

DayHeadlineClose price [EGP]Price change %Relative change %Comment
ThursdayEgyptian for Developing Building Materials accelerates rise, up 15.2% in 2 days8.898.97.5Top Rise; VI=4.97
WednesdayEgyptian for Developing Building Materials rises for a second consecutive day, a two-day rise of 5.8%8.165.75.0VI=2.7
TuesdayEgyptian for Developing Building Materials increases against the trend7.720.10.4

Note

DayHeadlineClose price [EGP]Price change %Relative change %Comment
MondayEgyptian for Developing Building Materials falls in 4 out of last 5 days7.71-1.8-1.4
SundayEgyptian for Developing Building Materials underperforms 91% of the market7.85-1.9-2.0Steepest Fall

SECTION 2: Technical indicators

Bullish:

The positive 0.15 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal (12-day minus 26-day Exponential Moving Averages). Both the 12-day and the 26-day EMA are rising - another bullish signal.

The price soared 17.8% in the last week and 17.7% in the last month.

The present value of EGP1,000 invested one year ago is LE1,156 [vs LE1,207 for the EGX 30 Index], for a capital gain of LE156. The total return to shareholders for 1 year is 15.6%.

Note

The stock is at a discount of 6.1% to the 12-month high of LE9.85 on 12 Oct, 2017. It is also at a premium of 39.9% to the 12-month low of LE6.61 on 12 Mar, 2017.

The stock has underperformed 62% of the Egyptian market over the past 6 months.

SECTION 3: Ranking

DescriptionValueRank In Market
MCap $US million2.9In Bottom 4%
52-week Range (in LE)6.6-9.8
1-month Range (in LE)7.7-9.5
Today's Volatility %4.5In Bottom Quartile
RSI73.4Bearish
Bollinger Bands1.3Bearish

SECTION 4: Recent News of Egyptian for Developing Building Materials

January 18: Egyptian for Developing Building Materials announces Right Issue

The company has announced a 5495950 for 2,500,000 rights issue effective Thursday, February 08. To subscribe to new shares the price has been fixed at LE10.15.

January 18: Feb 7: Lift Salab's rights issue last date

ArabFinance: Financial Regulatory Authority (FRA) approved publishing Developing Building Materials' (Lift Salab) (EDBM) invitation for existing shareholders to subscribe to the capital increase shares.

The issued capital will be hiked to LE79,959,500 from LE54,959,500, with increase amounting to LE25 million.

December 26 2017: Financial Regulatory Authority nods Lift Salab to increase capital

ArabFinance: Financial Regulatory Authority (FRA) approved, December 25, Egyptian for Developing Building Materials' (Lift Salab) (EDBM) disclosure report to conduct procedures of issued and paid capital increase to increase issued capital to LE79,959,500 from LE54,959,500, with increase amounting to LE25 million.

December 07 2017: Lift Salab submits capital hike documents to EFSA

ArabFinance: Financial Supervisory Authority (EFSA) announced December 06, 2017, Egyptian for Developing Building Materials (Lift Salab) (EDBM) has submitted disclosure report, in order to capital increase, according to the article no. 48 from listing and delisting rules.

Source: arabfinance.com

Egyptian for Developing Building Materials (CA:EDBM; CAI:EDBM; EY:EDBM)

ISIN: EGS23141C012

PermID: 8589935531

Source: www.BuySellSignals.com