TECHNICAL POSITION OF SELECTED NSE STOCKS AS AT CLOSE OF TRADING LAST WEEK.

AIICO INSURANCE

On 10/2/2015, AIICO closed below the upper band by 41.3%. Bollinger Bands are 18.91% 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 4 black candles.  During the past 50 bars, there have been 15 white candles and 26 black candles for a net of 11 black candles.

Currently the MACD is bullish since it is trading above its signal line. The MACD crossed above its signal line 20 period(s) ago.  Since the MACD crossed its moving average, AIICO's price has increased 8.64%, and has ranged from a high of N0.94 to a low of N0.80. The current value of the RSI and Stochastic Oscillator are 51.89 and 5.26 respectively.

Analyst Opinion:

Traders and investors should consider the stock now and position for different investment goal. Income investors can take long position.

ACCESS BANK

On 10/2/2015, ACCESS closed above the lower band by 46.6%.  Bollinger Bands are 21.90% 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 18 white candles and 31 black candles for a net of 13 black candles. Currently the MACD is bullish since it is trading above its signal line. The MACD crossed above its signal line 2 period(s) ago.  Since the MACD crossed its moving average, ACCESS's price has increased 0.77%, and has ranged from a high of N5.25 to a low of N4.81. The current value of the RSI is 45.98. 

Analyst Opinion:

 There is a reversal in trend, Traders can take position right away while Investors should accumulate at this point.

DANGOTE CEMENT

On 10/2/2015, DANGCEM closed above the lower band by 41.9%.  Bollinger Bands are 51.60% 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.  The bands have been in this narrow range for 7 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 5 white candles and 5 black candles.  During the past 50 bars, there have been 18 white candles and 27 black candles for a net of 9 black candles. 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, DANGCEM's price has increased 4.27% and has ranged from a high of N179.99 to a low of N155.60. The current value of the RSI is 48.29

Analyst Opinion:

Traders should wait to confirm reversal in trend before jumping again into the stock, while investors with long term perspective should position.

ZENITH BANK

On 10/2/2015, ZENITHBANK closed above the lower band by 30.6%. Bollinger Bands are 45.24% wider than normal.   The large width of the bands suggest high volatility as compared to ZENITHBANK's normal range.  Therefore, the probability of volatility decreasing and prices entering a trading range has increased for the near-term. During the past 10 bars, there have been 5 white candles and 5 black candles.  During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 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, ZENITHBANK's price has decreased 9.11%, and has ranged from a high of N18.85 to a low of N15.97. The current value of the RSI and Stochastic Oscillator are 43.24 and 76.81 respectively.

Analyst Opinion:

Currently, there is a pullback in the stock making it’s more attractive but wait to confirm reversal before positioning for short and long term.

FO

On 10/2/2015, FO closed below the upper band by 0.6%.Bollinger Bands are 119.75% wider than normal.   The large width of the bands suggest high volatility as compared to FO's normal range.  Therefore, the probability of volatility decreasing and prices entering a trading range has increased for the near-term. During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles.  During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles. Currently the MACD is bullish since it is trading above its signal line. The MACD crossed above its signal line 12 period(s) ago.  Since the MACD crossed its moving average, FO's price has increased 44.33%, and has ranged from a high of N259.80 to a low of N178.13. The current value of the RSI is 66.86. 

Analyst Opinion:

Traders in this stock should book profit as prices may continue to move higher for some time, and wait for price pullback before considering any short positions.

FBNH

On 10/2/2015, FBNH closed above the lower band by 24.5%.  Bollinger Bands are 2.48% 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 3 white candles and 7 black candles for a net of 4 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 13 period(s) ago.  Since the MACD crossed its moving average, FBNH's price has decreased 22.40%, and has ranged from a high of N8.00 to a low of N5.22. The current value of the RSI are Stochastic Oscillator are 35.96 and 52.71.

Analyst Opinion:

With the double bottom chart pattern of the stock, traders and investors should use this opportunity of low price to buy more.

GUINNESS

On 10/2/2015, GUINNESS closed below the upper band by 39.4%. Bollinger Bands are 6.51% 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 3 white candles and 7 black candles for a net of 4 black candles.  During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles. Currently the MACD is bullish since it is trading above its signal line. The MACD crossed above its signal line 2 period(s) ago.  Since the MACD crossed its moving average, GUINNESS's price has and has ranged from a high of N167.77 to a low of N151.45. The current value of the RSI is 54.32.

Analyst Opinion:

There is sell signal already on the stock, Traders and Investors should wait to confirm reversal in uptrend.

ETI

On 10/2/2015, ETI closed below the upper band by 10.1%. Bollinger Bands are 54.73% narrower than normal.  The narrow width of the bands suggests low volatility as compared to ETI'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 5 black candles for a net of 1 black candles.  During the past 50 bars, there have been 15 white candles and 30 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 20 period(s) ago.  Since the MACD crossed its moving average, ETI's price has increased 3.75% ,and has ranged from a high of N19.10 to a low of N18.00. The current value of the RSI is 56.07. 

Analyst Opinion:

Please confirm up trend before taking any position in the stock, this company has been side-trending for almost two years.

HONEYWELL

On 10/2/2015, HONYFLOUR closed above the upper band by 17.4%.  Although prices have broken the upper band and an upside breakout is possible, the most likely scenario is for the current trading range that HONYFLOUR is in to continue.  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 16 white candles and 25 black candles for a net of 9 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, HONYFLOUR's price has increased 8.21% , and has ranged from a high of  N2.91 to a low of  N2.56. The current value of the RSI is 64.28. 

Analyst Opinion:

Honeywell is trending up with gaps, traders already in the stock should watch and take profit at the right time. While new entrance should wait for pullback,

UNITED CAPITAL ( UBACAP )

On 10/2/2015, UBCAP closed above the lower band by 45.1%. Bollinger Bands are 5.76% 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 20 white candles and 26 black candles for a net of 6 black candles.Currently the MACD is bearish since it is trading below its signal line.The MACD crossed below its signal line 0 period(s) ago.  Since the MACD crossed its moving average, UBCAP's price has been unchanged, and has ranged from a high of N1.45 to a low of N1.41. The current value of the RSI is 50.77.

Analyst Opinion:

Traders and Investors should take position for the short and long term.  The possibility of reward in q3 results is high.

NB

On 10/2/2015, NB closed below the upper band by 41.2%.Bollinger Bands are 29.02% 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 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 1 period(s) ago.  Since the MACD crossed its moving average, NB's price has decreased 0.05%, and has ranged from a high of N149.00 to a low of N136.00. The current value of the RSI is 51.38.

Analyst Opinion:

Investors should accumulate more if the stock drop lower while traders should watch out for reversal and position.