Egyptian stock alert

EGYPT

CLOSING UPDATE: Ezz Steel decreased further 1.5%, led Basic resources sector lower 20 July 2017 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).

Ezz Steel, Egypt's largest basic resources company by market capitalisation, has dropped 3.0% to trade at LE17.55 vs. the Basic resources sector which weakened 16.8 points (or 0.4%) to 4,121.1. Representing a weighting of about 34.2% of the sector, the stock accounted for the loss. The shares have underperformed 99% of the market in the past month. Trading volume was 1.3 times average at the end of the day. Compared with the EGX 30 Index which rose 7.9 points (or 0.06%) in the day, this represented a relative price change of -3.1%.

Technical indicators complementing today's significant downtrend:

+ In the Egyptian market, the stock's relative price strength percentile is slipping at 17 for 6 months, 14 for 3 months and 1 for 1 month.

Note

Ezz Steel today is at a discount of 23.0% to the 12-month high of LE22.80 on 18 Jan, 2017. It is at a premium of 175.1% to the 12-month low of LE6.38 on 19 Oct, 2016.

Bullish Signals:

The present value of EGP1,000 invested one year ago is LE2,210 [vs LE1,828 for the EGX 30 Index].

TODAY'S ALERT

Afternoon Alert: Ezz Steel decreases 1.6%, leads Basic resources sector lower

20 July 2017 12:15 EET

Ezz Steel (CA:ESRS) has decreased 1.6% to trade at LE17.81 vs. the Basic resources sector which weakened 4.2 points (or 0.1%) to 4,133.7. Representing a weighting of about 34.6% of the sector, the stock accounted for the loss. Trading volume was 93% of average so far today.

RECENT ALERTS

CLOSING UPDATE: Ezz Steel dropped further 2.0%, led market lower

19 July 2017 15:09 EET

Ezz Steel, Egypt's largest basic resources company by market capitalisation, has dropped 3.8% to trade at LE18.10 vs. the EGX 30 Index which weakened 10.4 points (or 0.08%) to 13,707.1. Representing a weighting of about 3.1% of the index, the stock accounted for the loss. The shares have underperformed 99% of the market in the past month. Compared with the EGX 30 Index which fell 10.4 points (or 0.08%) in the day, this represented a relative price change of -3.7%.

Afternoon Alert: Ezz Steel decreases 1.9%, leads market lower

19 July 2017 12:11 EET

Ezz Steel (CA:ESRS) has decreased 1.9% to trade at LE18.47 vs. the EGX 30 Index which weakened 13.5 points (or 0.1%) to 13,704.0. Representing a weighting of about 3.2% of the index, the stock accounted for 58.7% of today's loss. Trading volume was 40% of average so far today.

Ezz Steel (CA:ESRS; CAI:ESRS; EY:ESRS)

ISIN: EGS3C251C013

PermID: 4295866291

Source: www.BuySellSignals.com