Bloomberg News

Energy Development Rises, Set for Biggest Climb in Five Months

February 27, 2012

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 isayson@bloomberg.net

To contact the editor responsible for this story: Matthew Oakley at moakley@bloomberg.net


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