From creating a higher-high, the stock price is now heavily declining and there is high probability of the stock re-testing between 26.50 and 26.80 before making any upward reversal attempt.
Flourmill of Nigeira stock price might have kissed all time low and might have seriously suffered due to whatever reasons, the current outlook of the stock should not be overlooked at the moment. Price struggling to break below support at 13.30, intermediate trendline now violated and the increase in volume - all these are pointers to better things to happen for...
With newly introduced stock into the Nigerian Stock Exchange, MTN is now looking for a support zone to hold its pullback price. A price below 132 will apparently not be a bad idea for the moment...
FBNH has been operating within the confine of a channel since 2018, now the stock price is attempting another touch of the lower channel. Will the lower channel reject the price at this level or the elephant will be too strong for the lower channel to carry its weight? Coincidentally, lower channel is also at a support zone between 3.77 & 3.57. Price rejection at...
ETI stock price attempt to continue downtrend after breaking the stock's all time low was finally rejected with the market full of panic sellers and hopeful buyers. Going forward, with I expect price to dip a little bit down in the coming weeks or months towards a critical zone between 6.20 and 7.00. It could possible start to rally immediately, but - that will...
Transcorp seems to have repeated bottom patterns regularly.
Past 4 trading days of the Nigerian Stock Exchange have been visited with ferocious bulls also with decent volume. Looking at the chart of the top 30 companies of the exchange, one cannot but think the bottom is likely around the corner. What I intend to see to call a "bottom" for the market is for price to re-test the low and possibly to be rejected before making...
In this critical bearish period on the NSE market, one of the stocks that is still "not following the general downtrend" is FCMB in the banking sector. For the past couple of weeks, 1.55 level have been rejecting any attempt for price to move the stock price below this level. Will this level continue to keep the bears at bay or will it be violated? A buy entry...
As an update to my last post on ETI, during this past trading week, ETI price attempted to pass through its all time low, however this was rejected with the week ended in indecision candlestick. The question is: will ETI rally in the coming weeks or what we have is a pause before bears continue the downtrend? Risk: Major trend is downtrend and also the index is...
The Price Action is not looking so good, was met with a strong resistance at 38.88 this has been a major support turn resistance , if price conveniently closes above 40 then we might have a bull run , but from the looks of this price action it seems it's merely a bearish correction and price distribution is taking place, meaning that price will further decline as...
Zenith Bank Ng seems to be reachin a very important support zone and will bounce at leat 30% to the green box
WEEKLY ANALYSIS OF NSE30 INDEX : WEEK ENDING 07062019 A vital support zone has been established on a monthly chart. The week ended with bear in control. Watch out for price crossing below 1257.6 that will strengthen bear position and also established supply zone. The last three weeks candle setup is also a bearish candle formation. ...
WEEKLY NSE 30 TECHNICAL ANALYSIS FOR WEEK ENDING 21062019. MARKET SENTIMENTS IS NEGATIVE ON ALL THE THREE TIME FRAMES. 1. Monthly Chart: You will notice that price has broken 1245.28, turning it into resistance. Volume has been low, indicating less selling pressure, which is a good sign. 2. Weekly Chart: There is a pulse in the market which indicate we have...
The stock is showing decisive move downward next support 480.
There are signs of distribution by the institutional trader at the top.
01-06-2019 : May Trading Update : There is a pulse in the downward direction. I am expecting ether continuation in the downward direction or reversal of trend next month. I favour the continuation of the trend because there is no selling climax on the monthly chart yet. 1100 is a significant level to watch on the monthly chart. NSENG:NSE30
WEEKLY MTN ANALYSIS FOR THE FIRST 50 WEEKS : 1. WEEK ONE : Sell pressure the stock fail the maintain the weekly high.
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