Nairametrics| The Nigerian Stock Exchange closed the week ending May 5th 2017 on a winning streak as the bulls continue to secure wins in a market that has been more associated with losses. The All Share Index has now gained for 6 straight days and now valued at N9 trillion.
For savvy investors in the Nigerian stock market, a 6 day gain is as much as a reason to celebrate as it is to be circumspect. Things could spiral downwards if history is anything to go by. Data from the Nigerian stock exchange shows was could typically happen after stocks go on a winning streak.
- Back in December, a 7 day winning streak was cut short abruptly
- It resumed immediately and lasted for another 5 days of trading and went downward afterwards.
- Another 5 day of gains was recorded between March and April 2017 before falling into red again.
- Will May buck the trend?