Egypt EGX 100 Breadth Weakens: 200 Day MA, 50 Day MA

CAIRO (Capital Markets in Africa) – Market breadth for the EGX 100 Index weakened as 51 percent of companies closed above their 200 day moving average, compared with 62 percent the previous day.

• 24 percent of companies closed above their 50 day moving average, compared with 33 percent the previous day.

The Egypt EGX 100 was little changed at 2,188.86, within 0.5 percent of its one-week low level reached on May 16. The loss follows the previous session’s increase of 0.6 percent.

Bloomberg’s market breadth function helps you analyze the main stock indexes around the world, highlighting when an unusual percentage of index members breach technical levels ranging from 52 week high/low to MACD trends. Whenever a value is highlighted in green or red, you’re getting a signal that breadth is very strong or weak.