Egyptian stock alert

EGYPT

CLOSING UPDATE: North Upper Egypt Development and Agricultural Production hits 52-week high third time in two months 22 May 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).

North Upper Egypt Development and Agricultural Production, Egypt's 26th largest food and beverage company by market capitalisation, hit a 52-week high of LE8.37 today for the third time in the past two months and last traded at LE8.37. This brought its four-day rise to LE1.35 or 19.2%. Trading volume was 5.8 times average at the end of the day. Compared with the EGX 30 Index which fell 123.2 points (or 0.7%) in the day, this represented a relative price increase of 10.9%.

Technical indicators complementing today's significant uptrend:

+ The positive 0.15 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.

+ The stock has outperformed 90% of the Egyptian market over the past 6 months.

+ In the last three months the stock has hit a new 52-week high eight times, pointing to a significant uptrend.

+ The price soared 16.2% in the last week and 17.7% in the last month.

+ The present value of EGP1,000 invested one year ago is LE1,770 [vs LE1,317 for the EGX 30 Index].

TODAY'S ALERT

Afternoon Alert: North Upper Egypt Development and Agricultural Production jumps 9.6% on strong volume

22 May 2018 12:12 EET

North Upper Egypt Development and Agricultural Production Co SAE (CA:NEDA) traded on heavy volume of 3.3 times average so far today while the price jumped 73.0 qirsh (or 9.6%) to trade at LE8.33.

North Upper Egypt Development and Agricultural Production Co SAE (CA:NEDA; CAI:NEDA; EY:NEDA)

ISIN: EGS52041C018

PermID: 4296822197

Source: www.BuySellSignals.com