Bloomberg News

Telefonica Czech Republic Shares Rebound After Eight-Day Slump

April 13, 2012

Telefonica Czech Republic AS (SPTT), the country’s biggest phone company, ended an eight-day decline, rebounding from its lowest level in almost two months.

The stock rose 1.1 percent to 375 koruna by 2:48 p.m. in Prague, outperforming the PX (PX) index, which dropped 0.5 percent.

The unit of Spain’s Telefonica SA (TEF) retreated 4.9 percent in the previous eight days, the longest stretch of losses in four months. The drop cut the stock’s 14-day relative strength index to 26 yesterday, below the 30 level that suggests to technical analysts a security may rise. The RSI climbed to 35 today.

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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