The Nigerian Stock Market closed the week on a positive note gaining 1.6%. Despite that the All Share Index still closed the week 4.39% lower following the massive sell-offs that occurred on Wednesday and Thursday.
The gains recorded in the last two days of trading is perhaps an indication that the bulls might return in the coming week. Investors who have hitherto sat on the sidelines may therefore see this as an opportunity to buy. Experience shows, money can be made when the bulls rage on but it also shows that people get their fingers burnt quite easily. Where you find yourself is now a matter of luck mixed with tact and perfect timing.
Perfect timing involves knowing which stocks are at the early stage of a bullish ride or approaching its peak. Buying at the early stage means you can be poised for some sweet gains. Selling at the peak means you are just in time to get out when the ovation is loudest.
As a guide, the folks at TRW Stockbrokers regularly issues volume price analysis for select stocks based on perceived signals (using technical analysis). Here is what it looks like.
From above, it appears Cadbury, PZ, Transcorp and Zenith are all about to embark on a bullish ride while UCAP, NAHCO are weakening. Ashaka and Berger Paints have probably approached bottom and could start rising again. What do you think?
See more signs below;
Resistance – Is the upper price ceiling
Support – Is the lower price floor
Ticker | Date/Time | Close | Resistance | Support |
ACCESS | 06/03/2016 | 5.56 | 6.50 | 5.04 |
AFRIPRUD | 06/03/2016 | 3.08 | 3.19 | 2.69 |
BERGER | 06/03/2016 | 7.55 | 7.80 | 7.67 |
CADBURY | 06/03/2016 | 20.50 | 17.24 | 15.62 |
CAVERTON | 06/03/2016 | 1.41 | 1.65 | 1.35 |
CCNN | 06/03/2016 | 7.14 | 7.90 | 6.67 |
CHAMPION | 06/03/2016 | 2.74 | 2.93 | 2.66 |
CONTINSURE | 06/03/2016 | 1.10 | 1.15 | 1.02 |
CUSTODYINS | 06/03/2016 | 3.42 | 3.85 | 3.70 |
CUTIX | 06/03/2016 | 1.65 | 1.65 | 1.58 |
DANGSUGAR | 06/03/2016 | 6.80 | 7.19 | 5.70 |
DIAMONDBNK | 06/03/2016 | 2.23 | 2.47 | 1.69 |
ETERNA | 06/03/2016 | 2.99 | 3.41 | 2.88 |
ETI | 06/03/2016 | 16.43 | 18.05 | 14.21 |
ETRANZACT | 06/03/2016 | 5.88 | 4.29 | 3.90 |
FBNH | 06/03/2016 | 4.00 | 4.69 | 3.53 |
FCMB | 06/03/2016 | 1.67 | 1.87 | 1.41 |
FIDELITYBK | 06/03/2016 | 1.32 | 1.47 | 1.20 |
FIDSON | 06/03/2016 | 2.05 | 2.20 | 1.98 |
FLOURMILL | 06/03/2016 | 22.00 | 23.02 | 20.42 |
GLAXOSMITH | 06/03/2016 | 20.00 | 21.54 | 20.00 |
GUARANTY | 06/03/2016 | 19.20 | 21.59 | 16.91 |
HONYFLOUR | 06/03/2016 | 1.67 | 2.00 | 1.62 |
IKEJAHOTEL | 06/03/2016 | 2.00 | 2.57 | 1.92 |
JBERGER | 06/03/2016 | 43.00 | 45.00 | 43.00 |
LIVESTOCK | 06/03/2016 | 1.06 | 1.26 | 0.91 |
MANSARD | 06/03/2016 | 2.00 | 2.32 | 2.01 |
MAYBAKER | 06/03/2016 | 1.20 | 1.20 | 0.99 |
MCNICHOLS | 06/03/2016 | 1.33 | 1.40 | 1.17 |
NAHCO | 06/03/2016 | 4.88 | 5.95 | 4.10 |
NASCON | 06/03/2016 | 8.00 | 8.70 | 8.15 |
NPFMCRFBK | 06/03/2016 | 1.15 | 1.19 | 1.10 |
OANDO | 06/03/2016 | 6.16 | 8.04 | 5.25 |
OKOMUOIL | 06/03/2016 | 30.05 | 29.11 | 29.00 |
PORTPAINT | 06/03/2016 | 2.05 | 2.06 | 1.96 |
PRESCO | 06/03/2016 | 35.70 | 36.50 | 35.02 |
PZ | 06/03/2016 | 22.74 | 23.00 | 21.66 |
REDSTAREX | 06/03/2016 | 4.30 | 3.99 | 3.80 |
SKYEBANK | 06/03/2016 | 1.22 | 1.42 | 1.09 |
STANBIC | 06/03/2016 | 15.75 | 17.76 | 13.89 |
STERLNBANK | 06/03/2016 | 1.55 | 1.74 | 1.51 |
TIGERBRANDS | 06/03/2016 | 4.88 | 5.59 | 4.64 |
TRANSCOHOT | 06/03/2016 | 5.29 | 5.56 | 4.59 |
TRANSCORP | 06/03/2016 | 1.34 | 1.51 | 1.06 |
TRANSEXPR | 06/03/2016 | 1.73 | 1.82 | 1.03 |
UAC-PROP | 06/03/2016 | 4.02 | 4.23 | 4.02 |
UACN | 06/03/2016 | 19.00 | 22.00 | 18.55 |
UBA | 06/03/2016 | 4.72 | 4.50 | 3.89 |
UBN | 06/03/2016 | 5.47 | 5.78 | 4.66 |
UCAP | 06/03/2016 | 2.27 | 2.62 | 1.91 |
UNILEVER | 06/03/2016 | 32.00 | 32.24 | 30.41 |
UNIONDICON | 06/03/2016 | 12.43 | 13.86 | 11.31 |
WAPCO | 06/03/2016 | 80.01 | 83.01 | 73.40 |
ZENITHBANK | 06/03/2016 | 14.95 | 17.33 | 13.53 |
