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Early morning trading indicates there are about 15.5 million bids for FCMB shares with no offer (seller). FCMB share price dipped 89 kobo per share and now trades at 43% discount to its net assets. The share price has lost over 53% this year already and over 70% in the last one year.
When shares are on full bid, it indicates a bullish trend with the stock having more chances of gaining than losing. At this rate the share rice could pop by around 10% today if the bulls continue to appear. The share price is currently at 90 kobo up just 1.1%. Nevertheless it is still a long way to recovery.
