Monday, May 22, 2017

FBN HOLDING PLC: WOULD THE STOCK CONTINUE THE UPTREND OR DECLINE?



The share price continued its upside rally for third consecutive week. Though there were heavy decline in the volume traded compared to previous week as buyers and sellers were indecisive on the trend for the stock (an early signal of a reversal in trend)


Looking at the daily timeframe, we see it trading in the bullish zone (Bollinger Band).

 
 
Bottom-line: We expect the stock to be in a range for awhile around the N4 – N4.20k zone. As such we recommend holding the stock 

DISCLAIMER
Adeshina, 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 website 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.

For more analysis, realtime trade calls and Technical analysis education of stocks both for Nigerian Equities Trading, FX, Commodities and other global markets, mail trendonomicsng@gmail.com or contact 09092133294 to join our mailing list.

No comments:

Post a Comment

Search For Posts