Titan Cement Co drops 1.4 per cent on high volatility

Titan Cement Co drops 1.4 per cent on high volatility
Published: 05 June 2008

Titan Cement Company, Greece’s second largest Industrials company by market capitalisation, traded between an intraday low of Euro28.36 and a high of Euro28.96. Since open its volatility (highest price minus lowest price/lowest price) of 2.1 per cent was 0.9 times average daily volatility of 2.4 per cent, up from 1.6 per cent on the previous trading day and 1.6 per cent on the day before previous trading day. The stock fell for a second day on Wednesday. The share price decreased 42.0 Eurocents (or 1.4 per cent) to Euro28.54.

Moving Average Price (MAP): The price to 200-day MAP ratio is 0.91, a bearish indicator. In the past 200 days this ratio has been under 0.91 180 times suggesting further downside. The 50-day MAP of Euro28.46 is lower than the 200-day MAP of Euro31.50, a bearish indicator. The 200-day MAP has decreased to Euro31.50. A decrease is another bearish indicator. In the last three months the number of falls outnumbered rises 30:26 or 1.15:1.

Volume and turnover period: There were 30,560 shares worth Euro871,391 (US$1 m) traded. The volume was 0.2 times average trading of 144,173 shares. The turnover rate in the 12 months to date was 46.9 per cent (or a turnover period of two years 47 days). This average length of ownership of the stock at 1.4 times the average holding period of one year six months for stocks in the Athex All Share Index suggests a larger number of core investors, making a long-term investment safer.