Invest Data Consulting Ltd

WHY FUNDAMENTALLY SOUND STOCKS, AMIDST IMMINENT EARNINGS RELEASE, PROFIT TAKING Equity prices and market indexes continued to galloped higher over the first three trading weeks of the year despite the profit booking and concerns for correction before the 2017 dividend declaration earnings reporting season that will earnestly kick off any moment in February while March year-end account Q3 earnings reports are underway as the first month of 2018 is gradually drawing down.  The state of these Q3 numbers will determine if the tested 45,000 psychological line resistance  breakout will be sustained or trigger the pullbacks that have been expected from different quarters which they say it will confirm the healthiness of the bullish market. Despite this expected correction, the market had continue to ride on strong  wave 3 or 5 extension wave depending on how you are reading the waves with index and volume intact looking up no diversion yet as at last week.  ...

VOLATILITY PERSISTS AMIDST PORTFOLIO REPOSITIONING, SPECULATION, AHEAD OF Q3 EARNINGS SEASON Nigeria’s stock market indices had an interesting but volatile session on Thursday. The day opened with the benchmark index in the red, moving to strong support level by midday, after which it had a strong rally between midday and the afternoon session as high cap stocks appreciated in value, following which the day closed significantly positive. There was a breakout of strong resistant level of 35,680 as intraday rally hit high of 35,778.98, from a low of 35,155.08 which is around the new month’s support level. The current breakout of the consolidated sideways narrow range resulted from portfolio repositioning and speculations ahead of expectations that the earnings season that had just kicked off with light reporting from few companies would rev into steam. Already, more companies have been announcing their Q3 closed period in preparation of making the actual numbers available ...