NSE All Share Index Approach an end to the Short term Pullback

The short term pullback in the Nigerian Stock Exchange (NSE) All Share Index may be nearing its end. From a technical perspective the key support zones are 31,033.3 - 31,785.8 basis point. With the index currently stands at 32,459.17 basis point.

 
Source: Amibroker NSE ASI Weekly Chart

Trend Analysis: 
 

From a technical analysis perspective, the NSE All Share Index after rallying to breach resistance level 31,073.30 basis points in June 2017 reached an high of 34,384.7, thereafter corrective move began and we currently see a retracement to possibly test the resistance now support of 31,073.30 bps. Key support and resistance levels are 31,073.3 and 34,384.7 bps respectively.

Trend indicators shows that the index currently trades above the SMA 200 and SMA 100 (medium and long term moving averages) but slightly below the SMA 5 (the short term moving average). Bollinger band system is showing a tight range (consolidating in preparation for an impending rally) 

Momentum indicators shows both RSI 14 day period and stochastic slow and fast retraced from the overbought zones to give the opportunity for another round of bullish rally in the short and medium term. Volume analysis on the other hand shows weakness in the bearish movement

 

Source: Amibroker NSE ASI Daily Chart

Our Expectations:

We expect the gradual end of the short term pullback experienced in equities traded on the exchange. Renewed bargaining interest is expected in the coming week especially in the banking and industrial sectors.  

Discover how you can use technical analysis tools to early price entry and price project at our 2 Day Technical Analysis Basic and intermediate class for more information click http://tiameetup.com/technical-analysis-course/ or Call Tunji on +2347058610013, Kehinde on +2348033713010 

2 Day Basic and Intermediate Course on Technical Analysis from Certified Experts

                 Basic and Intermediate Course on Technical Analysis from Certified Experts and Traders

Dates: Saturday 15^th & 22^nd July, 2017
Time: 10am – 3pm
Venue: The Zone Center, Gbagada, Lagos

WHY YOU SHOULD ATTEND

• Discover High probability Trading Setup
• Learn strategies best used for each market cycle
• Develop and use the strategies demonstrated to gain an edge in reading market indices
• Identify trends in multiple timeframes
• Learn how to accurately pick tops and bottom in any market
• Learn how to manage risk and trade positions using technical analysis strategies
• Discover how the big institutions behave in the markets.
• Recognize indicators and patterns
• Practical simulation and trading exercise
• Opportunity to Join our Coaching/Mentorship program and more

WHO SHOULD ATTEND

Fund and portfolio managers
Investment management head & Team members
Research Analysts
Stockbrokers
Equity, FOREX & Commodity Traders
Private Traders/Investors

How to Register

Course Fee N75,000
(Payment on or before 12^th June, 2017 attracts N15,000 discount. Registration closes 14^th July)

Pay into Trendonomics Account info,

Account name: Trendonomics Resources
Account no. 0088523867
Bank: Diamond Bank Plc

After payment is made, text name to +2347058610013

Upon confirmation of payment, you would receive a call from our representative for more details.

For Enquiries: Call Tunji on +2347058610013, +2349092133294      
Powered By: Trendonomics Resources