Egyptian stock alert
CLOSING UPDATE: Remco Tourism Villages Construction tumbles 9.8% - underperforming 99% of stocks 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).
Remco Tourism Villages Construction, Egypt's 3rd largest travel & leisure company by market capitalisation, has tumbled 31.0 qirsh (or 9.8%) today to trade at LE2.86 and has underperformed 99% of the market in the past week. Compared with the EGX 30 Index which fell 28.8 points (or 0.2%) in the day, this represented a relative price change of -9.6%.
Technical indicators complementing today's significant downtrend:
+ The negative 0.35 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.
+ The price plummeted 33.3% in the last week and 31.1% in the last month.
Afternoon Alert: Remco Tourism Villages Construction sinks 5.4% on spectacular volume
20 September 2018 12:12 EET
Remco Tourism Villages Construction SAE (CA:RTVC) traded on heavy volume of 10.0 times average so far today while the price sank 17.0 qirsh (or 5.4%) to trade at LE3.0.
Remco Tourism Villages Construction SAE (CA:RTVC; CAI:RTVC; EY:RTVC)