Egyptian stock alert

EGYPT

CLOSING UPDATE: Arab Aluminum down 16.9% in 2 days 19 October 2017 15:06 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).

Arab Aluminum, Egypt's 6th largest basic resources company by market capitalisation, extended its slide on Thursday, shedding an additional LE3.69 (or 7.6%) to trade at LE44.55. Trading volume was 1.6 times average at the end of the day. The shares have fallen LE9.05 (or 16.9%) over the past two trading days vs. the EGX 30 Index which has risen 1.4% in the same period.

Note

Arab Aluminum today is at a discount of 20.5% to the 12-month high of LE56.02 on 18 Oct, 2017. It is at a premium of 485.4% to the 12-month low of LE7.61 on 26 Oct, 2016.

Bullish Signals:

The positive 4.9 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.

The stock has outperformed 98% of the Egyptian market over the past 6 months.

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

The price soared 19.5% in the last week and 51.4% in the last month.

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

Undervaluation:

Dividend yield of 2.2% [0.3%]

TODAY'S ALERT

Afternoon Alert: Arab Aluminum down 16.9% in 2 days

19 October 2017 12:12 EET

Arab Aluminum (CA:ALUM) extended its slide on Thursday, shedding an additional LE3.69 (or 7.6%) to trade at LE44.55. Trading volume was 32% of average so far today. The shares have fallen LE9.05 (or 16.9%) over the past two trading days vs. the EGX 30 Index which has risen 1.6% in the same period.

RECENT ALERTS

CLOSING UPDATE: Arab Aluminum hits 52-week high fifth time in one month

18 October 2017 15:04 EET

Arab Aluminum, Egypt's 6th largest basic resources company by market capitalisation, hit a 52-week high of LE56.02 today for the fifth time in the past one month and last traded at LE48.24. Trading volume was 5.8 times average at the end of the day. Compared with the EGX 30 Index which rose 64.7 points (or 0.5%) in the day, this represented a relative price change of -10.5%.

Afternoon Alert: Arab Aluminum tumbles 6.7%

18 October 2017 12:14 EET

Arab Aluminum (CA:ALUM) traded on volume of 0.8 times average so far today while the price tumbled LE3.60 (or 6.7%) to trade at LE50.0.

Arab Aluminum (CA:ALUM; CAI:ALUM; EY:ALUM)

ISIN: EGS3D031C018

PermID: 4296041148

Source: www.BuySellSignals.com