Egyptian stock alert

EGYPT

CLOSING UPDATE: Cairo Poultry hits 52-week high second time in one month 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).

Cairo Poultry, Egypt's 4th largest food and beverage company by market capitalisation, hit a 52-week high of LE9.88 today for the second time in the past one month and last traded at LE9.74. This brought its two-day rise to LE1.04 or 12.0%. Trading volume was 30% of average at the end of the day. Compared with the EGX 30 Index which rose 212.5 points (or 1.4%) in the day, this represented a relative price increase of 2.2%.

Technical indicators complementing today's significant uptrend:

+ The positive 0.29 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.

+ In the Egyptian market, the stock's relative price strength percentile is rising at 90 for 6 months, 90 for 3 months and 91 for 1 month.

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

+ The price soared 13.0% in the last week and 17.3% in the last month.

+ The present value of EGP1,000 invested one year ago is LE2,745 [vs LE1,158 for the EGX 30 Index].

Note

Overbought/Bearish:

The 1.4% discount to 12-month high of LE9.88 against the 201.4% premium to 12-month low of LE3.23 suggests the climb might be peaking.

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

Overvaluation:

Dividend yield of 0.8% [1.4%]

TODAY'S ALERT

Afternoon Alert: Cairo Poultry climbs 4.8%, leads Food and beverage sector higher

18 January 2018 12:12 EET

Cairo Poultry (CA:POUL) has climbed 4.8% to trade at LE9.85 vs. the Food and beverage sector which strengthened 60.0 points (or 0.5%) to 11,259.3. Representing a weighting of about 7.8% of the sector, the stock accounted for 69.5% of today's gain. The shares have outperformed 95% of the market in the past week. Trading volume was 1.4 times average so far today.

Cairo Poultry (CA:POUL; CAI:POUL; EY:POUL)

ISIN: EGS02051C018

PermID: 4295866305

Source: www.BuySellSignals.com