Bloomberg News

New World Resources Rebounds From Lowest in Almost Three Years

May 10, 2012

New World Resources Plc (NWR), the biggest producer of coking coal in the Czech Republic, rebounded from its lowest in almost three years.

The stock climbed 2.6 percent to 116.39 koruna by 10:13 a.m. in Prague, making it the second-best performer in the country’s main PX (PX) index of 14 companies.

NWR slumped 11 percent in the previous four sessions to its lowest since July 2009, driving its 14-day relative strength index to 28 yesterday. Readings below 30 suggests to technical analysts that a security may rise. The RSI climbed to 31 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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