Energy Development Rises, Set for Biggest Climb in Five Months

Energy Development Corp. (EDC) gained in Manila stock trading, rebounding from a five-day slump that drove the stock yesterday to the lowest since September 2010.

Shares of the geothermal energy producer advanced 3.1 percent to 5.05 pesos as of 10:37 a.m. local time, heading for the sharpest gain since Sept. 28. The stock’s 14-day relative strength index sank to 14 yesterday, the lowest since September 2008 and below the 30 level that some investors use as a signal to buy.

To contact the reporter on this story: Ian Sayson in Manila at

To contact the editor responsible for this story: Matthew Oakley at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.