Egyptian stock alert

EGYPT

Afternoon Alert: Telecom Egypt hits 52-week high fifth time in one month 22 April 2018 12:10 EET

NEWS BITES - MIDDLE EAST & NORTH AFRICA

Telecom Egypt Co SAE (CA:ETEL) hit a 52-week high of LE15.30 today for the fifth time in the past one month and last traded at LE15.04. This brought its seven-day rise to LE2.41 or 19.1%. Trading volume was 77% of average so far today.

SECTION 1: The past week

Current indications of bullish signals that support the trend in the unusual trading

1.1 At a glance

Weekly: Telecom Egypt soars 20.0% in 2 weeks; nears a 22-month high April 19, 2018 14:30 EET

Telecom Egypt Co SAE (CA:ETEL), Egypt's 2nd largest Telecommunication company by market cap, traded near it's twenty two-month high. It lifted LE1.63 (or 12.3%) in the past week to close at LE14.85. The stock soared for a second week recording a rise of LE2.48 (or 20.0%) in the past two weeks. Compared with the EGX 30 Index which rose 370.4 points (or 2.1%) in the two weeks, this represented a relative price increase of 17.9%. This has been propped up by spectacular volume of 5.7 times average for the week. In the past week the market cap has jumped LE2.8 billion (US$157.2 million).

1.2 5-day Recap

Telecom Egypt outperformed the EGX 30 index in 5 out of 5 days.

[Volume Index (VI); 1 is average]

DayHeadlineClose price [EGP]Price change %Relative change %Comment
ThursdayTelecom Egypt keeps rising, up 17.6% in 6 days14.851.00.6VI=5.7
WednesdayTelecom Egypt keeps rising, up 16.4% in 5 days14.70.81.3VI=4.4
TuesdayTelecom Egypt hits year-high 2nd time in one month14.595.14.1Top Rise; VI=6.6
MondayTelecom Egypt keeps rising, up 9.9% in 3 days13.880.90.8VI=5.3
SundayTelecom Egypt up 8.9% in 2 days13.754.03.9VI=7.4

SECTION 2: Technical indicators

Bullish:

The positive 0.58 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal (12-day minus 26-day Exponential Moving Averages). Both the 12-day and the 26-day EMA are rising - another bullish signal. In the past week, the stock's MACD has been positive every day, a reinforcing bullish signal.

In the Egyptian market, the stock's relative price strength percentile is improving at 60 for 6 months, 66 for 3 months and 93 for 1 month.

In the last one month the stock has hit a new 52-week high five times, pointing to an uptrend.

The present value of EGP1,000 invested one year ago is LE1,409 [vs LE1,391 for the EGX 30 Index], including a capital gain of LE297 and dividend reinvested of LE112. The total return to shareholders for 1 year is 40.9%.

Note

Overbought/Bearish:

The 1.7% discount to 12-month high of LE15.30 against the 57.3% premium to 12-month low of LE9.56 suggests the climb might be peaking.

SECTION 3: Ranking

DescriptionValueRank In Market
MCap $US billion1.5In Top 6%
Price/MAP2001.2In Top Quartile
52-week Range (in LE)9.6-15.3
1-month Range (in LE)12.1-15.3
RSI79.6Bearish
Stochastic-3.9Bearish

SECTION 4: Recent News of Telecom Egypt

April 21: Telecom Egypt announces dividend

Telecom Egypt today announced a cash dividend of 25.0 qirsh per share. The record date is Monday, April 23.

April 11: Telecom Egypt declares cash dividends of LE0.250\share

ArabFinance: Telecom Egypt (ETEL) announced in a statement sent to EGX, it declared a cash dividend of LE0.250 per share payable on April 29, 2018.

It is noteworthy that the shareholders as on April 23, 2018, are entitled to cash dividends distribution.

Source: arabfinance.com

April 03: Loan deal still going on without problems: Telecom Egypt

Cairo: Telecom Egypt (ETEL) denied reports claiming that there are problems concerning the LE 13-billion loan deal with five banks.

In statements to MENA on Tuesday, the source said the loan deal is going on normally.

The state-owned landline operator struck the loan deal with five banks; the National Bank of Egypt, Banque Misr, Commercial International Bank (CIB), Qatar National Bank (QNB) and Credit Agricole, to improve its infrastructure to launch 4G services.

April 03: Telecom Egypt denies suspending its 13-bln loan

ArabFinance: Telecom Egypt (ETEL) clarified what has been published in Reuters regarding suspending the Company loan that amounts LE13 billion.

The company denies the above-mentioned news in a statement sent to Egyptian Stock Exchange (EGX), adding the loan procedures have been proceeding normally.

Source: arabfinance.com

March 29: Potential investment opportunity in maritime cables: Telecom Egypt

Cairo: Telecom Egypt (ETEL) said there is a potential investment opportunity in maritime cables domain to maximize the company's revenues.

In a statement on Wednesday, the company's CEO Ahmed el Beheiry said the opportunity is important as it will help the company secure its revenues of maritime cables.

Telecom Egypt Co SAE (CA:ETEL; CAI:ETEL; EY:ETEL)

ISIN: EGS48031C016

PermID: 4295866302

Source: www.BuySellSignals.com