Invest Data Consulting Ltd

The equity market continued its weekly rally as investors’ sentiment remained positive due to the expected very short bull transition in a bear market, despite the current side trending mood of the market as revealed by the Composite Index NSEASI movement that is attempting to breakout the resistance level of 30,350 to 30,580 points.   Below are the technical position of the selected few equities at the end of last week trading. FO On September 18, Forte Oil closed above the lower band by 28.8 per cent. Bollinger Bands are 19.86 per cent narrower than normal. The current width of the bands does not suggest anything conclusive about the future volatility or movement of prices. During the past 10 bars, there have been four white and two black candles for a net of two white candles. During the past 50 bars, there have been 23 white candles and 14 black candles for a net of nine white candles. Currently the MACD is ...

The charts below are the 12 indexes of the NSE, representing sectors and other classes of indices for effective reading and analysing of the market's performance. As you can see, six of the 12 indices are trading above the 50 day moving average. NSE 50 is closer to its 50-day but yet to cress over while 2 are trading below the 50 day moving averages. Others are new indices that are trading above 7 and 20-day moving average. The indices above 50DMA are NSE Banking, NSE Consumer Goods, NSE Insurance, NSE 30, NSE ASEM and NSE OIL/Gas. NSE Industrial   almost crossing the 50 day MA at the last trading day of last week as revealed on the chart Goods and NSE LOTUSISLM were below the 50-DMA.   The more number of indexes trading above 50 day moving average is an indication of up trending market in the making.  NSE 50   NSE 30 NSEASEM NSE BANKING NSE CONSUMER GOODS NSE INDUSTRIAL GOODS NSE ...

CBN, TSA, Ministerial list, Investor Confidence and MPC Meeting Based on the mixed performance of the nation’s capital market over the last three weeks and more recently, the side trending of the Composite NSE ASI forming an ascending triangle pattern could provide good trading opportunities after the Federal Executive Council is constituted by President Muhammadu Buhari. The only question now is which way? The new cabinet is expected to give the required economic direction and complement the CBN's monetary policy towards revamping the nation's economy for productivity that drive real growth and development. Also, i nstitutions and individual investors are seemlyworried about the impact of the Treasury Single Account (TSA), whose implementation by the government started on September 15. Their worry is not baseless, given that an estimated N1.2 trillion or more was pooled out as bank vaults the form of deposits held for Federal Government Ministries, D...