Make no mistake, trading the stock market isn’t all about buying low, sell high, at times I make more money buying high and selling higher. But the only setback here is that you can only adopt this strategy in a confirmed bull market; a trend that reflects positive sentiments.
Now that treasury bill has finally crashed below 1% with stop rate on 91-day, 182-day and 364-day hovering around 0.34%, 0.50% and 0.98%, there is no doubt the bull will get stronger in coming months.
And if you are looking for a good stock to jump into at ceiling price, leverage on growing positive sentiments among institutional investors after a solid Q2 number, Flourmill Nigeria stock should be on your watchlist.
Flour Mills of Nigeria PLC provides food and agricultural products and services. The Company offers flour, noodles, pasta, oil and spreads, and sugar, as well as feeds, fertilizers, and logistics and support services. Flour Mills of Nigeria serves customers in Nigeria.
I had put a buy rating on this stock in January 2020 before the Covid-19 outbreak. This weighed on the expected rally as investors flee the NSE market to safe-haven assets. But I think the stock is back on track to my target but this time, straight to its 2018 high.
In its latest Q2 2021, the company reported a revenue of N355bn, which is 31.2% higher than N271bn generated in the previous comparable period. After accounting for direct and indirect expenses, profit before tax and after-tax expanded by 69% and 68.3% to N14.6bn and N9.9bn respectively.Continue reading “1 Breakout Stock You Can Still Buy Before Year End.”