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Nigeriastockmarket

TRANSCORP (NGN) Breaks Out of Consolidation – Potential UpsideTRANSCORP (NGN) Breaks Out of Consolidation – Potential Upside Ahead TRANSCORP has successfully broken out of its immediate consolidation zone and is currently trading at ₦61. If this breakout is sustained, it presents a promising opportunity for bullish momentum. Given the current market structure, I am looking to maintain a buy position around ₦58 - ₦61, with ₦70 and ₦80 as my key target price (TP) zones. As with all trades, patience is essential, and I am prepared to hold my position strategically for optimal returns. Trade wisely and manage risk accordingly.
NSENG:TRANSCORP
by ForexClinik
I am optimistic about the outlook for STANBIC stockI am optimistic about the outlook for STANBIC stock. Currently, Stanbic IBTC Holdings (STANBIC) on the NGX is trading above a rising trendline that is providing solid support. While I am bullish on the stock, I am awaiting a pullback to the N57 level to execute my two planned entries. To manage risk, I will set my stop loss at the N51.25 level for both entries. My first target price (TP1) is N68.6, aligning with the FIB61.8% retracement level. For my second target (TP2), I am setting my sights on the all-time high (ATH) zone, which is N83.
NSENG:STANBICLong
by ForexClinik
4
Where Is TRANSCORP on NGX Heading Next?TRANSCORP recently broke its previous all-time high (ATH) of ₦53.5, setting a new ATH at ₦54.5. However, the bullish momentum did not sustain, and the price has retraced to the ₦50 zone, which is now acting as a key support level. Currently, there are no strong fundamental drivers indicating the possibility of a new rally. This raises the question: Could we see the price decline further to the ₦46 zone, a level that has served as strong support multiple times in the past? The Nigerian Exchange (NGX) has been quite volatile recently, and TRANSCORP is no exception.
NSENG:TRANSCORP
by ForexClinik
Unilever Stock on NGX: Technical Analysis and ForecastUnilever stock on the NGX reached its all-time low of ₦10 around March 30, 2020, during the global market downturn. From March 2020 to November 4, 2024, it traded in a range between ₦10 and ₦20, consolidating within this zone. On November 4, 2024, the stock broke out of the ₦10-₦20 range, signalling the start of a bullish rally that has since propelled the price upward. Currently, the stock has completed a 50% retracement from its last highest point, a significant level often observed in technical analysis. Additionally, its present price is at the FIB 50 level, a key resistance zone that could determine the continuation or reversal of the upward trend. Traders should closely monitor ₦40, as it represents a significant psychological and technical level to watch for further price action. Forecast: If the price breaks above FIB 50, it may continue its rally toward the ₦40 zone. A rejection at FIB 50 could result in a pullback to test lower support levels.
NSENG:UNILEVERLong
by ForexClinik
OKOMUOIL Hits a New All-Time High (ATH) on NGXOKOMUOIL Hits a New All-Time High (ATH) on NGX OKOMUOIL on the Nigerian Exchange (NGX) has reached an impressive new All-Time High (ATH) of N440, breaking past its previous high set between August and September 2024. A Quick Recap After hitting its last ATH, OKOMUOIL retraced close to the Fibonacci 50% level, stabilizing around the N334 zone before regaining momentum. This healthy pullback provided a solid foundation for the current bullish breakout. The Key Question: What’s Fueling OKOMUOIL? Several potential drivers could be behind this recent surge: Strong Fundamentals: Increased earnings, strategic expansions, or operational efficiency improvements could have boosted investor confidence. Market Sentiment: Positive sentiment around the agricultural or oil palm sector may be driving increased demand for OKOMUOIL shares. Macroeconomic Factors: Government policies favoring local industries or rising commodity prices could be contributing to the upward momentum. Technical Outlook With the breakout above N440, the next step is to watch for potential consolidation or further rallying. Key areas to monitor include: Support Levels: The N440 breakout level and the previous pullback zone at N334. Fibonacci Extensions: These could help project potential future price targets. Final Thoughts OKOMUOIL’s price action reflects a strong bullish trend, but traders and investors should remain cautious. Understanding the fundamental catalysts and monitoring technical levels will be key to navigating the next move.
NSENG:OKOMUOIL
by ForexClinik
1
Transcorp Stock Analysis and ForecastTranscorp Stock Analysis and Forecast Transcorp's stock is currently testing its All-Time High (ATH) of approximately N53.5. This is a critical resistance level that could determine its next movement. Bullish Scenario: If buying momentum remains strong and the stock successfully breaks and sustains above the ATH, we could witness a significant upward trend as the stock moves into uncharted territory. Bearish Scenario: However, if the resistance at the ATH holds, a temporary pullback is likely. This retracement could offer an opportunity to enter the stock at a more favourable price point. The overall market sentiment appears bullish with the current high demand for Transcorp shares on the Nigerian Exchange (NGX). As such, monitoring price action closely around the ATH is advisable to make informed entry or exit decisions.
NSENG:TRANSCORPLong
by ForexClinik
A Possible 35% Increase by AfriprudHi, My Name is Victor. This is the first time I decided to go public with my strategies. My strategies are not 100% efficient but they are sure to give you some returns for your investment. This strategy is based on volume and price and movement. The major indicators used to arrive at this idea are purely technical though am aware that Africa Prudential PLC. (Afriprud) has a strong fundamental. The key indicators used are CCi, RSI and MA 50, 100, 150. The volume shows that at 6naira per share, Afriprud has a high volume of demand and this might also serve as our resistance level. for a while Afriprud has been on an uptrend and is currently taking a pull back inorder to continue this trend. Our CCI indicates that price has gone over bought and might likely reverse. The RSI indicates a weak trend hence a reversal is bound to occur. Entry - 6naira exit - 8.14 stop loss - 5.5 Gain - 35% Risk/reward ratio; 4.24
NSENG:AFRIPRUDLong
by victoronuoha35
1
💥NAIRA AT A DEAD END- #620/$ OR #550/$Please support this idea with a LIKE👍 if you find it useful🥳 Not a financial advice🙅🏼‍♂️ I expect Naira rate to either FALL towards #500-#540/$ OR RISE towards #600-#620/$ Right here is the Nigerian exchange rate against the US Dollar. We have price in a symmetrical triangle approaching the dead zone when price can either break upward or downward. Therefore, if price is to break upward, then Naira rate will increase towards 600 and 620 Naira per dollar. But if price break downward, then Naira rate will decrease towards 500 to 550 Naira per dollar. What do you think? Share your opinion in the comment section✍️ Follow me to receive more updates on USDTNGN ( NAIRA ) 🤗 Happy Trading💰🥳🤗
ULong
by PetrockFxTrading
2
NSE Daily TimeframeSNIPER STRATEGY This magical strategy works like a clock on almost any charts Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading. It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave. The best timeframe for this strategy is Daily, Weekly and Monthly however it can work any timeframe above three minutes. Start believing in this strategy because it will reward believers with huge profit. There is a lot more about this strategy. It can predict and also it can give you almost exact buy or sell time on the spot. I am developing it even more so stay tuned and start to follow me for more signals and forecasts.
NShort
by hadimozayan
💥USDTNGN - RISE TO $560 OR FALL TO $535Please support this idea with a LIKE👍 if you find it useful🥳 As seen on the chart, price is currently at $544. We have a symmetrical triangle guarding the coin. Therefore, if Price break the upper resistance line, we can see an upmove to $560 and if it doesn't, may see a fall to $533. What do you think? Share your opinion in the comment section✍️ Follow me to receive more updates on NIGERIAN NAIRA (USDTNGN) 🤗 Happy Trading💰🥳🤗
ULong
by PetrockFxTrading
Lots of Indecision Ongoing With FBNH Stock PriceThe weekly indecision and rejections ongoing with FBNH stock price makes the short term direction unclear. On the medium term trend however, the stock has turned a little bit bullish and a decline below 5 Naira is much desirous. Looking at the volume, the stock has a decent average volume than when it declined towards April 2020; this could indicate fewer decline and more upside potential if it remains the same. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
NSENG:FBNHLong
by BullBearMkt
Weekly Selling Pressures Could Send GTB To Retest Below 50% FibRecent selling pressures observed on Guaranty Trust Bank stock price could possibly mean the stock is about to pullback to a support level. Identified however is the support at about 22 (Naira). If price is rejected at this level, then we could have a reversal to the upside & price could also go to re-test support at 19.21 N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
GLong
by BullBearMkt
Now that ETI stock price monthly rejected going lowerETI stock price attempt to continue downtrend after breaking the stock's all time low was finally rejected with the market full of panic sellers and hopeful buyers. Going forward, with I expect price to dip a little bit down in the coming weeks or months towards a critical zone between 6.20 and 7.00. It could possible start to rally immediately, but - that will possibly not for smart monies... PLAN YOUR TRADES AND TRADE YOUR PLANS
NSENG:ETILong
by BullBearMkt
NSE30 WEEKLY MARKET ANALYSIS WEEKLY ANALYSIS OF NSE30 INDEX : WEEK ENDING 07062019 A vital support zone has been established on a monthly chart. The week ended with bear in control. Watch out for price crossing below 1257.6 that will strengthen bear position and also established supply zone. The last three weeks candle setup is also a bearish candle formation. CONCLUSION: I am expecting the market to move lower or at least short term sideways movement paving the way for either upside movement or continuation of the trend NSENG:NSE30 www.tradingview.com
N
by davepop2006
MARKET SENTIMENTS IS NEGATIVE ON ALL THE THREE TIME FRAMES.WEEKLY NSE 30 TECHNICAL ANALYSIS FOR WEEK ENDING 21062019. MARKET SENTIMENTS IS NEGATIVE ON ALL THE THREE TIME FRAMES. 1. Monthly Chart: You will notice that price has broken 1245.28, turning it into resistance. Volume has been low, indicating less selling pressure, which is a good sign. 2. Weekly Chart: There is a pulse in the market which indicate we have to watch out for price action for the coming weeks to determine market direction. Price is still bearish on the weekly chart and notices monthly resistance line is still intact, and the weekly closes below the monthly resistance. 3. Daily Chart: Attempted fail rally due to price overextension as mention last week. The sentiment is negative price close below the monthly resistance. CONCLUSION : Retail investors should stay out of the market and wait for the coming bull market.
N
by davepop2006