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.
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