Nigeriastockmarket
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...
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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
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.
SELLING CLIMAX ON NSEINDUSTRIAL ON MONTHLY CHART ?.
DATE :14:05:2019.
April candle closing with extended range candle with high volume indicate following :
1. Sign of end to the downward trend
2. Big volume also support selling climax
2. Institutional buyer may start coming to the market
ACTION PLAN :
1. Time to start paying attention to smaller time frame weekly and daily.
2. Stock to watch within the index : WAPCO, Dangote Cement, CCNN and CAP.
INSIDE DAY BAR ON MONTHLY CHART ON ALL NIGERIA SHARE INDEX NSE30The inside day bar momentum is negative.
Price is likely to test 1100 which is the nearest support.
MONTHLY ANALYSE OF NSE 30 The market is in the bear market .
NSENG:NSE30
Price is below the EMA 20 .
Price level to watch is 1100.