An interesting speculative stock which has seen favorable
bargaining activities from the investing communities.
Friday ended bearish forming a lower high; we believe smart
money are offloading to late comers.
On the weekly timeframe the stock is at the overbought level
(RSI 14 weekly period at 80 level) and met resistance at critical technical
level of N10.50 (a strong distribution level)
Bottomline
We expect a correction to drive the equity to
N8. On the other hand, a break above N10.50 would see the share rally towards
N16 (immediate resistance level)
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