Bloomberg News

New World Resources Rises From Two-Year Low, Ends Four-Day Drop

October 05, 2011

Oct. 5 (Bloomberg) -- New World Resources Plc, the biggest Czech producer of coking coal, rose the first day in five, rebounding from its lowest level in more than two years.

The stock jumped as much as 6.6 percent today and traded up 2.9 percent to 125.4 koruna by 10:18 a.m. in Prague. NWR fell 13 percent in the previous four days to the lowest since July 2009.

NWR’s four-day drop pushed the 14-day relative strength index to 29 yesterday. Readings below 30 suggest to technical analysis that a security or an index may gain. The stock’s RSI rose to 32 today.

European shares advanced amid speculation policy makers are examining measures to shield banks from the sovereign-debt crisis.

--Editors: Linda Shen, Ana Monteiro

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

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


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