5 TOP NIGERIAN STOCK MARKET PICKS FOR THE WEEK

On my top list is Access bank Plc.

Chart Source: Amibroker                                                      Access bank Plc Daily chart

Sentiment: Buy at market price                                     Duration: Short term/10% - 15% Profit potentials

Technical analysis profiling:

Price finds support at N4.50K at the lower Bollinger band while RSI 14 day period showed a bullish reversal.

Candle pattern: Piercing Pattern which is a reversal pattern

Conclusion:

Swing or Day trader to take advantage of early and short term speculative potentials projecting N5 – N5.20K with risk level at N4.30K

No. 2 Top Pick for the week is Skye Bank Plc

Chart Source: Amibroker                                                         Skye Bank Plc Daily chart

Sentiment: Buy at market price                                        Duration: Short term/10% - 15% Profit potentials

Technical analysis profiling:

Doji candle formation at the lower Bollinger band on 14^th October, 2015

A bullish gap on 16/10/2015 on relatively high volume

RSI 14 day period above 50 mark, bullish territory

Conclusion:

Swing or Day trader to take advantage of early and short term speculative potentials projecting N2.80k resistance level, a close above N2.40k would solidify our bias. Risk level at N2.300K

In the 3^rd place is NB Plc

Chart Source: Amibroker                                                                              NB Plc Daily chart

Sentiment: Buy at market price                                                                          Duration: Medium term

Technical analysis profiling:

The current correction has find support at N130, a lower Bollinger band

Doji formation at 61.8% Fibonacci retracement level on high bullish volume

RSI 14 day period slightly below 50 mark

Conclusion:

Swing or Day trader to take advantage of early and medium term speculative potentials projecting N150 Fibonacci extension level while risk level at N124

For full analysis and realtime trade call of stocks to watch with upside potentials on the Nigerian Stock Market and other global markets, send “add me” to trendonomicsng@gmail.com to join our mailing list.

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Trendonomics or anyone involved with Trendonomics Resources Company will not accept any liability for any trading loss or damage as a result of reliance on the information contained within this email including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.