Forte Oil Shares Appears Over Bought As It Crosses Three Year High At N52.92

Forte Oil Plc is currently on a 3year high and still rising. The stock is currently trading at N52.92 only. The stock also trades at a high P.E ratio of 56x making one wonder what in this world is pushing the stock this high. There isn’t any fundamental analysis available that justify this steady price increases. The stock’s chart below suggest it is over bought as its Relative Strength Index has crossed the 70x line.

Has your stockbroker recommended this stock for you? If yes why?

Did You Know Forte Oil was formerly called AP and that the current price is its 3 year high?