Top Performing Stocks To Watch In 2018 2.67/5 (3)

The NSE All-Share Index and Market Capitalization depreciated by 0.06% to close the week at
41,218.72 and N14.931 trillion respectively.
Similarly, all other indices finished lower with the exception of NSE Premium, NSE Banking, NSE
Industrial goods, and NSE Pension indices that appreciated by 0.12%, 1.56%, 1.06% and 0.21%
respectively, while the NSE ASeM closed flat.

We are still not deviating from our usual practice of picking stocks to watch from a pool of top gaining stocks that made investors money last week. But, here is a catch about my recommendation this time:

The two stocks are not only a pick for short-term play but have always been top performers in their industry, besides, they are one of the best Nigerian stocks to buy and hold for the rest of the year.

Cement Company of Northern Nigeria (CCNN)

When I shared a detailed guide on how to pick the best-performing stocks to buy in the stock market using a detailed top-down approach, CCNN was my recommended stock which as of now has added N6 to the share price N16 traded at that time. The stock is up more than 100% YTD, the top performing stock so far.

Last week, CCNN emerged as one of the top gainers with 14.62% share price appreciation to close at N22.35 against the week open of N19.50.

The recent Q1 result revealed a lot about the positive outlook of this stock; Sales was higher by 24%, on the back of increasing volume compared to Q1, 2017 while EPS grew significantly to 0.86 (111%), 9% below the company’s single-quarter best of 0.95 recorded in Q4, 2017. Some analyst had already forecast a 2X annual EPS for 2018 if the company maintain this momentum.

READ  Top Gaining Stocks To Watch Closely This Week, 14th May, 2018

top gaining stocks

Technically, the stock is bullish with limited upside. I’d advice you wait for profit-taking before riding the next move as it’s close to overbought already. But, if you don’t mind the short-term reversal and would like to play the cement stock between now and end of the year, you can buy now.

BetaGlass

The stock started the year at around N52 per share but is already close to N90 mark, it gained 10.20% to close the week at N83.2.  As of this writing, it’s one of the stocks trading at 52-weeks high; no resistance for now.

Looking at the Q1, 2018 result, the fundamentals of this stock remain strong.

top gaining stocks

Technically, Betaglas is bullish on all chart intervals; daily, weekly and monthly.

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About Oge

When I am not talking about stocks and fixed income opportunities, you will see me studying Rhapsody of Realities daily devotional

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2 Comments on “Top Performing Stocks To Watch In 2018”

  1. Oge, thank u very much for ur guides. How much is a share now in this two top gaining stocks u talked about?

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