Technical Position of Selected Equities on the NSE
The
Composite Index NSEASI closed last week on a positive note, breaking out the resistance level to gain
0.70 percent at 30,543.17 from an opening figure of 30,332.68, this upside
ushers in the very short bull transition
in a bear market as many bullish chart pattern have been identified at this point. Below are the technical position of the
selected few equities at the end of last week trading.
UACN PROPERTY
On 9/23/2015, UAC-PROP closed below the upper
band by 39.7%. Bollinger Bands are 50.76% narrower than normal.
The narrow width of the bands suggests low volatility as compared to
UAC-PROP's normal range. Therefore, the
probability of volatility increasing with a sharp price move has increased for
the near-term. During the past 10 bars, there have
been 2 white candles and 2 black candles.
During the past 50 bars, there have been 11 white candles and 14 black
candles for a net of 3 black candles.
Currently the MACD is bullish
since it is trading
above its signal line. The MACD crossed above its signal line 16 period(s)
ago. Since the MACD crossed its moving
average, UAC-PROP's price has decreased 5.69%, and has ranged from
a high of N8.26 to a low of N7.42. The current value of the RSI is 47.50.
Analyst Opinion:
Traders should confirm this reversal in trend
and position for the very short term, while investors should take advantage of
the low price to accumulate more.
STANBIC IBTC
On 9/23/2015, STANBIC closed below the upper
band by 50.0%. Bollinger Bands are 49.71% wider than normal.
The large width of the bands suggest high volatility as compared to
STANBIC's normal range. Therefore, the
probability of volatility decreasing and prices entering a trading range has
increased for the near-term. The bands
have been in this wide range for 15 period(s).
The probability of prices consolidating into a less volatile trading
range increases the longer the bands remain in this wide range. During the past 10
bars, there have been 3 white candles and 7 black candles for a net of 4 black
candles. During the past 50 bars, there
have been 16 white candles and 28 black candles for a net of 12 black candles.
Currently the MACD is
bearish since it is trading below its signal
line. The MACD crossed below its signal line 15 period(s) ago. Since the MACD crossed its moving average,
STANBIC's price has decreased
18.07%, and has ranged from a high of N28.95
to a low of N17.50. The current value of
the RSI and Stochastic Oscillator are 42.78 and 58.80 respectively.
Analyst Opinion:
NAHCO
On 9/23/2015, NAHCO closed below the upper band
by 49.9%. Bollinger Bands are 36.54%
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 2 white candle and 1 black candles for a net of 1 white candle. During the past 50 bars, there have been 10
white candles and 18 black candles for a net of 8 black candles. Currently the
MACD is bullish since it is trading above its signal line. The MACD
crossed above its signal line 16 period(s) ago.
Since the MACD crossed its moving average, NAHCO's price has decreased 3.63%, and has ranged from a high of N4.74 to a low of N4.11. The
current value of the RSI is 45.96.
Analyst Opinion:
Wait to confirm reversal before jumping into
this stock as it is trending downward.
FO
On 9/23/2015, FO closed below the upper band by
33.9%. Bollinger Bands are 19.25%
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 5 white candles and 2 black candles for a net of 3 white candles. During the past 50 bars, there have been 24
white candles and 12 black candles for a net of 12 white candles. Currently the MACD is bearish since it is trading below its signal line. The MACD crossed below its
signal line 12 period(s) ago. Since the
MACD crossed its moving average, FO's price has increased 2.13%, and has
ranged from a high of N239.99 to a low of N216.41. The current value of the RSI
is 64.00.
Analyst Opinion:
Traders and Investors should take profit on this
stock and wait for pullback to re-enter as its currently at overbought region.
DANGOTE CEMENT
On 9/23/2015, DANGCEM closed below the upper
band by 42.3%. Bollinger Bands are 50.80% narrower than
normal. The narrow width of the bands
suggests low volatility as compared to DANGCEM's normal range. Therefore, the probability of volatility
increasing with a sharp price move has increased for the near-term. During the past 10
bars, there have been 5 white candles and 3 black candles for a net of 2 white
candles. During the past 50 bars, there
have been 24 white candles and 18 black candles for a net of 6 white candles.
Currently the MACD is bullish since it is trading above its signal line. The MACD
crossed above its signal line 6 period(s) ago.
Since the MACD crossed its moving average, DANGCEM's price has decreased 0.29%, and has ranged from a high of N170.00 to a low of N164.00.
The current value of the RSI and Stochastic Oscillator are 49.29 and 64.11
respectively.
Analyst Opinion:
There is a break out of descending triangle
pattern which confirms continue upside, traders and investors should position
for short or long term investment objective. The stock has the capacity to
reward all classes of players.
NB
On 9/23/2015, NB closed below the upper band by
43.1%. Bollinger Bands are 37.93%
wider 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 5 white candles and 5 black candles.
During the past 50 bars, there have been 18 white candles and 32 black
candles for a net of 14 black candles. Currently the MACD is bullish since it is trading above its signal line .The MACD crossed
above its signal line 0 period(s) ago.
Since the MACD crossed its moving average, NB's price has been
unchanged, and has ranged from a high of N141.00 to a low of N136.00. The
current value of the RSI is 51.43
Analyst Opinion:
The stock has retraced already and traders that
positioned at the lower Bollinger should wait and watch. New entrance should be
for the very short position while investors can hold.
FBNH
On 9/23/2015, FBNH closed above the lower band
by 23.9%. Bollinger Bands are 4.02%
wider 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 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 17
white candles and 33 black candles for a net of 16 black candles. Currently the
MACD is bearish since it is trading below its signal line. The MACD crossed
below its signal line 12 period(s) ago.
Since the MACD crossed its moving average, FBNH's price has decreased 21.28%, and has ranged from a high of N8.00 to a low of N5.22. The
current value of the RSI and Stochastic Oscillator are 36.62 and 54.15
respectively.
Analyst Opinion:
The stock is currently on side trending waiting
for a trigger up or down. Traders and Investors should take position in
expectation of earnings season.
LAFARGE AFRICA
On 9/23/2015, WAPCO closed above the lower band
by 34.6%. Bollinger Bands are 64.27%
narrower than normal. The narrow width
of the bands suggests low volatility as compared to WAPCO's normal range. Therefore, the probability of volatility
increasing with a sharp price move has increased for the near-term. The bands have been in this narrow range for
4 period(s). The probability of a
significant price move increases the longer the bands remain in this narrow
range. During the past 10 bars, there have been 4
white candles and 4 black candles.
During the past 50 bars, there have been 24 white candles and 23 black
candles for a net of 1 white candle. Currently the MACD is bearish since it is trading below its signal line. The MACD crossed
below its signal line 4 period(s) ago.
Since the MACD crossed its moving average, WAPCO's price has increased 1.03%, and has ranged from a high of N103.00 to a low of N95.95.
The current value of the RSI is 51.45
Analyst Opinion:
The recent pullback created opportunity for
Traders and Investors to jump into the stock as uptrend is confirmed.
ACCESS BANK
On 9/23/2015, ACCESS closed above the lower band
by 41.9%. Bollinger Bands are 17.75%
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 4 white candles and 5 black candles for a net of 1 black candle. During the past 50 bars, there have been 17
white candles and 32 black candles for a net of 15 black candles. Currently the
MACD is bullish since it is trading above its signal line. The MACD crossed
above its signal line 1 period(s) ago.
Since the MACD crossed its moving average, ACCESS's price has decreased 0.58%, and has ranged from a high of N5.25 to a low of N4.81. The
current value of the RSI is 44.81.
Analyst Opinion:
Reversal is imminent, Traders and Investors
should jump in for all investment purpose.
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