Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Egis Retreates on Signal Stock Overbought After Three-Day Rally

July 18 (Bloomberg) -- Egis Gyogyszergyar Nyrt., a Hungarian drugmaker, fell for the first time in four days as a technical indicator showed the stock was overbought.

The shares dropped 0.9 percent to 15,665 forint by 11:24 a.m. in Budapest. The 4.3 percent advance in the past three days pushed the stock’s 14-day relative strength index to 72, above the 70 level which indicates to some analysts that a security is oversold. The RSI last stood at 68.

“Egis is soon becoming overbought,” Erste Group Bank AG wrote in a research report sent by e-mail today.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.