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Market Update For October 24, 2018 Volatile trading on the Nigerian Stock Exchange continued at the midweek, amidst profit booking, as the benchmark All-Share Index closed negative after four consecutive sessions of bull-run. This was as traders cashed out their profit from the recent rally, driven by Q3 numbers released so far. Investors are taking advantage of the corporate earnings to reposition and reshuffle their portfolios as they study and interpret the numbers ahead of full-year expectations and changing market dynamics in the midst of increasing political risks and uncertainties ahead of the 2019 general elections which is less than four months away. The All Share index opened Wednesday on a little upside in the morning before pulling back sharply by mid-morning and into the afternoon, touching intraday lows of 32,403.60 basis points, from a high of 33,201.34bps. It therefore broke down the 33,000 mark and the shortest Moving Average of seven and 21, after touching ...

Support and Resistance are technical words used in technical analysis in stock, forex, commodities etc. Support and Resistance is a concept that the movement of the price of a stock will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level. Support levels are where demand is perceived to be strong enough to prevent the price from falling further, while resistance levels are prices where selling is perceived to be strong to prevent prices from rising higher. Support and Resistance levels are psychological important levels where a lot of buyers and sellers are willing to trade the stock. When trend lines are broken, the market psychology shifts and new levels of support and resistance are established. Investdata Academy.

Recently, I held my Chart Summit at Ostra Hall and Hotels, Alausa, Ikeja. This was one of the best if not the best seminar I have ever organized. However, what came as a shock to me was the fact that 80% of the attendees where all professionals who have used or have been Technical Analysis. However, they confessed that have been into several trainings similar to my recent chart summit but the value they got was far more than the fee that was charged. *Here is what some of them have to say.* I have not seen a more lucid, concise, organized & insightful trading and investing educational presentations than the chart summit. All the speakers opened my eyes to how to manage risk using TA, despite the fact that I have been playing the market for 21 years. Mr Ambrose thank you. Please keep this good work you are doing for Nigerians.  Ikechukuw Olisa, an investor *Ambrose and Tunde's presentations were the simplest, clearest and best understood of the many that I have hea...