Egyptian stock alert

EGYPT

CLOSING UPDATE: Raya Holding for Financial Investment SAE keeps sliding: down 22.9% in 3 days 20 September 2018 15:10 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).

Raya Holding for Financial Investment SAE, Egypt's 3rd largest technology company by market capitalisation, extended its slide on Thursday, shedding an additional 78.0 qirsh (or 10.3%) to trade at LE6.82. Trading volume was 26% of average at the end of the day. The shares have fallen LE2.03 (or 22.9%) over the past three trading days vs. the EGX 30 Index which has fallen 4.0% in the same period.

Technical indicators complementing today's significant downtrend:

+ The negative 0.61 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.

+ In the Egyptian market, the stock's relative price strength percentile is falling at 34 for 6 months, 17 for 3 months and 13 for 1 month.

+ The price plummeted 25.9% in the last week and 28.3% in the last month.

Note

Oversold/Bullish:

The 0.3% premium to 12-month low of LE6.80 against the 40.1% discount to high of LE11.38 suggests the decline might be bottoming.

TODAY'S ALERT

Afternoon Alert: Raya Holding for Financial Investment SAE climbs 5.3%, leads Technology sector higher

20 September 2018 12:12 EET

Raya Holding for Financial Investment SAE (CA:RAYA) has climbed 5.3% to trade at LE8.0 vs. the Technology sector which strengthened 79.6 points (or 0.4%) to 18,313.4. Representing a weighting of about 8.7% of the sector, the stock accounted for the gain. Trading volume was 48% of average so far today.

RECENT ALERTS

CLOSING UPDATE: Raya Holding for Financial Investment SAE hits 52-week low second time in six months

17 September 2018 15:08 EET

Raya Holding for Financial Investment SAE, Egypt's 2nd largest technology company by market capitalisation, hit a 52-week low of LE8.02 earlier today for the second time in the past six months, but later rebounded higher to LE8.85. Trading volume was 8% of average at the end of the day. Compared with the EGX 30 Index which fell 104.7 points (or 0.7%) in the day, this represented a relative price increase of 5.4%.

Afternoon Alert: Raya Holding for Financial Investment SAE sinks 5.1%, leads Technology sector lower

17 September 2018 12:12 EET

Raya Holding for Financial Investment SAE (CA:RAYA) has sunk 5.1% to trade at LE8.02 vs. the Technology sector which weakened 150.9 points (or 0.8%) to 18,444.2. Representing a weighting of about 8.7% of the sector, the stock accounted for 54.3% of today's loss. The shares have underperformed 92% of the market in the past month.

Raya Holding for Financial Investment SAE (CA:RAYA; CAI:RAYA; EY:RAYA)

ISIN: EGS690C1C010

PermID: 4295866255

Source: www.BuySellSignals.com