Bloomberg News

NWR Rebounds From Almost Three-Year Low, Snaps Seven-Day Selloff

May 22, 2012

New World Resources Plc (NWR), the biggest Czech producer of coking coal, rebounded from a seven-day drop to its lowest in almost three years on investor optimism that the euro area will step up economic stimulus.

The stock rose 1.9 percent to 105.5 koruna by 3:54 p.m. in Prague, helping the 14-member PX (PX) index add 1.2 percent today.

NWR slumped 13 percent in the previous seven days to the weakest since July 2009, lowering the stock’s 14-day relative strength index to 25. Readings less than 30 suggest in technical analysis an asset may rise. The RSI increased to 28 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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