Egyptian stock alert
CLOSING UPDATE: Asek Company For Mining continues significant uptrend, lifted 3.6% 26 July 2017 17:25 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).
Asek Company For Mining, Egypt's 5th largest basic resources company by market capitalisation, continued its significant uptrend and lifted 47.0 qirsh (or 3.6%) to trade at LE13.67 today. Compared with the EGX 30 Index which rose 56.5 points (or 0.4%) in the day, this represented a relative price increase of 3.2%.
Technical indicators complementing today's significant uptrend:
+ The positive 1.3 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.
+ In the Egyptian market, the stock's relative price strength percentile is rising at 95 for 6 months, 95 for 3 months and 99 for 1 month.
+ In the last one month the stock has hit a new 52-week high eight times, pointing to a significant uptrend.
+ The price soared 10.2% in the last week and 81.3% in the last month.
+ The present value of EGP1,000 invested one year ago is LE2,604 [vs LE1,830 for the EGX 30 Index].
The 1.6% discount to 12-month high of LE13.90 against the 221.7% premium to 12-month low of LE4.25 suggests the climb might be peaking.
Afternoon Alert: Asek Company For Mining climbs 4.9% - outperforming 94% of stocks
26 July 2017 13:07 EET
Asek Company for Mining (CA:ASCM) has climbed 65.0 qirsh (or 4.9%) today to trade at LE13.85 and has outperformed 94% of the market in the past week. A price rise combined with a high relative strength is a bullish signal.
Asek Company for Mining (CA:ASCM; CAI:ASCM; EY:ASCM)