Egyptian stock alert

EGYPT

CLOSING UPDATE: Egyptians Abroad for Investment and Development up 6.3% in 2 days 19 August 2018 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).

Egyptians Abroad for Investment and Development, Egypt's 14th largest financial services company by market capitalisation, extended its gains on Sunday, rising an additional 10.0 qirsh (or 3.1%) to trade at LE3.35. Trading volume was 58% of average at the end of the day. The shares have risen 20.0 qirsh (or 6.3%) over the past two trading days vs. the EGX 30 Index which has fallen 0.5% in the same period.

Technical indicators complementing today's significant uptrend:

+ The price lifted 2.8% in the last week and 3.8% in the last month.

Note

Egyptians Abroad for Investment and Development today is at a discount of 48.2% to the 12-month high of LE6.46 on 05 Dec, 2017. It is at a premium of 14.2% to the 12-month low of LE2.93 on 07 Jun, 2018.

The stock has underperformed 54% of the Egyptian market over the past 6 months.

Bearish Signals:

The negative 0.02 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.

TODAY'S ALERT

Afternoon Alert: Egyptians Abroad for Investment and Development up 6.3% in 2 days

19 August 2018 12:10 EET

Egyptians Abroad for Investment and Development Co SAE (CA:ABRD) extended its gains on Sunday, rising an additional 10.0 qirsh (or 3.1%) to trade at LE3.35. Trading volume was 4.0 times average so far today. The shares have risen 20.0 qirsh (or 6.3%) over the past two trading days vs. the EGX 30 Index which has fallen 0.5% in the same period.

Egyptians Abroad for Investment and Development Co SAE (CA:ABRD; CAI:ABRD; EY:ABRD)

ISIN: EGS67181C015

PermID: 4296952027

Source: www.BuySellSignals.com