From Fish Farming to Agribusiness Giant: Ellah Lakes’ 304% Rise Ellah Lakes Plc is a Nigeria‑based agribusiness firm, once focused on fish farming but now primarily engaged in oil palm, cassava, maize, soya, and rice production and processing, operating plantations across Edo, Ondo, Enugu, Ekiti (Nigeria) and Ghana.
This asset has made roughly 304% gain since 2nd of June of this year.
The questions are:
1. Is this vertical growth sustainable?
2. Will price action be respected technically as shown on the chart?
3. Will Ellah Lake drop back to close the yellow gap? (N5.3 - N6 zone)
My final view:
After a 304% gain since June, I am now questioning the sustainability of this vertical move, key technical zones, and whether a price correction to the ₦5.3–₦6 gap is on the horizon
Trade with care
