Bloomberg News

Est Media Rises Most in Three Weeks in Rebound From Record Low

July 10, 2012

Est Media Vagyonkezelo Nyrt. (ESTMEDIA), a Hungarian entertainment company, rose the most in three weeks as a technical indicator signaled its decline was overdone.

The shares increased 10 percent to 23 forint by 9:36 a.m. in Budapest, the biggest gain in the 11-member benchmark BUX index. The stock’s 13 percent plunge to a record low yesterday pushed its 14-day relative strength index to 17. RSI levels below 30 indicate to some analysts that a security is oversold. The RSI last traded at 23.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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