Equities Pick for the Week

On my top list is UBCAP Plc.

Chart Source: Amibroker                                                            UBCAP Plc Daily chart

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

Technical analysis profiling:

Price finds support at N1.32K at the lower Bollinger band while RSI 14 day period showed a bullish reversal.

Candle pattern: Bullish Engulf pattern which is a reversal pattern

Conclusion:

Swing or Day trader to take advantage of early and short term speculative potentials projecting N1.50K

The next top pick for the week is Skye Bank Plc

Chart Source: Amibroker                                                                     Skye Bank Plc Daily chart

Sentiment: Buy at N2 – N2.05k                                  Duration: Short term/10% - 15% Profit potentials

Technical analysis profiling:

A bullish reversal candle pattern as seen in the railyway track candle pattern in the last trading day in October

Support found at the lower Bollinger band

RSI 14 day period reversed from the bearish zone

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 N1.60K

The next recommendation is Okomu Oil Plc

Chart Source: Amibroker                                                                      Okomu OIl Plc Daily chart

Sentiment: Buy at N29.15K                                                                          Duration: Medium term

Technical analysis profiling:

The stock has since corrected over 50% of the uptrend rally after hitting an over boght zone in the momentum indicator.

On 30^th October, 2015 price action from investors sentiment ended with a bullish piercing pattern at the 50% Fibonacci retracement level.

RSI 14 day period slightly below 50 mark

Conclusion:

Swing or Day trader to take advantage of the renewed uptrend sentiment towards resistance N36 and a breach in this level would extend our target to around N45

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

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