Egyptian stock alert

EGYPT

CLOSING UPDATE: Modern Company for water proofing accelerates rise, now up 5.3% in 2 days 18 January 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).

Modern Company for water proofing, Egypt's 18th largest construction and materials company by market capitalisation, is up 4.0 qirsh (or 5.3%) over the past two trading days. After rising 1.3% on Wednesday, the stock rose 3.9% on Thursday to trade at 80.0 qirsh vs. the EGX 30 Index that is up 2.1% in the same period.

Technical indicators complementing today's significant uptrend:

+ The 3.6% discount to 12-month high of 83.0 qirsh against the 31.1% premium to 12-month low of 61.0 qirsh suggests the stock continues to push for new highs.

+ In the last three months the stock has hit a new 52-week high twice.

+ The price jumped 8.1% in the last week and soared 14.3% in the last month.

Fundamental measures by comparison with the sector average [in brackets] indicate:

Undervaluation:

+ Dividend yield of 3.8% [0.4%]

Note

Bearish Signals:

The stock has underperformed 76% of the Egyptian market over the past 6 months.

TODAY'S ALERT

Afternoon Alert: Modern Company for water proofing accelerates rise, now up 6.6% in 2 days

18 January 2018 12:12 EET

Modern Company for water proofing (Bitumode) (CA:WATP) is up 5.0 qirsh (or 6.6%) over the past two trading days. After rising 1.3% on Wednesday, the stock rose 5.2% on Thursday to trade at 81.0 qirsh vs. the EGX 30 Index that is up 2.0% in the same period.

Modern Company for water proofing (Bitumode) (CA:WATP; CAI:WATP; EY:WATP)

ISIN: EGS3J041C011

PermID: 4297073513

Source: www.BuySellSignals.com