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How to Pick the Right Stock for Trading.

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pick stocks in nigeria

With the uncertain times of 2020, what strategy can you trust when it comes trading the stock market?

Note: This article was put together before the #EndSars protest.

The stock market goes up and down on any little news and things are more uncertain than ever. This is why you need to learn my tactics of picking the right stocks going forward.

On Sept 15th, 2020, I shared 2 unstoppable cheap penny stocks to buy which were FCMB and UCAP at the recommended market price of N2.03 and N3.01 respectively. It’s now 32 days and both stocks have appreciated by 15% and 20% to N2.35 and N3.63.

These are growth figures that beat our current inflation numbers of 13.22% and have outperformed Treasury Bill rates of 0.16% (pro rated on an annualized rate of 2%).

On the 26th, September 2020, I also shared banking stock that was on a clear path to appreciating to a multi-month of N30, a lot of people actually shared their objections and why the stock may fall as they thought the sentiments on NSE index was largely bearish. Well! the stock which is GTB did test the N30 and is trading above that psychological level.

The most recent stocks to buy are Zenith Bank and Dangote Cement. Both stocks exhibited a bullish potential that is not far from institutional activities; the banking stock is already up by more 19.3% from the market price of N18.05 while Dangote Cement currently selling for N150, up by 4.1%

If you missed these opportunities before the market rally, don’t worry! I am about to share my practical steps to spot stocks like this before they appreciate more.

Buy This Stock Next Week To Pocket 14%+ Cash Dividend.

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As investors flock to the stock market for alternative high-yield opportunities, here is one stock you should buy as much as you can next week on a pull-back. The reason I am so convinced this stock will do well is that it actually meets the elusive combination of sustainable inflation-beating dividend yield of 14%+ with more room to appreciation when it finds support at one of its key moving averages.

As a growth investor, one might wonder if the rally in NSE all-share index has come to an end following 2-days of continuous sell-off with 0.46% decline on Friday.

To answer this question, let’s look at the general market index on a monthly so we can get a clear picture of where the index is going, up or down.

NSE All-share index

The NSE all-share closed Friday’s trading session at 28,415.31 basis point and as you can see on the chart above, MACD is still on very fresh bullish crossover which means, the short term run isn’t over – we may see another rally after a healthy correction.

Got Money to Trade? 1 Stock You Should Buy Before Market Rally.

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Following the massive run stocks have mounted in the last two weeks, it’s normal for the market to correct on profit-taking. But here is the good news, the correction in stock prices witness today offers another opportunity to buy into the dip before All-Share Index reverses back to an uptrend. After all, a lot of analysts believes the low-interest rate that had forced money managers to seek better returns from the stock market will likely remain at that level for a long period.

And as N567bn worth OMO bills matures next week, a slice of this fund should find their way to the stock market.

Going by my predictions, the bulk of the cash invested into the equities market will no doubt chase high-yielding dividend stocks.

Aside from dividend stocks, I’d also advise anyone that has some idle cash to look into agric-stocks that are benefiting from the current pandemic and government policies via increased local demand.

2 Must-Own Dividend Stocks for the New Bull Market.

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From September (the day I shared a strong fundamental and technical reasons you should start buying Nigeria stocks), the stock market has added more strength to its index – now up by 3.87% (from 25,978 basis to 26,985). Besides, the 2.53% bullish run in the last 5 days has pushed the market index into the positive region on a year-to-date – NSE ASI is now up by 0.54%. (Let’s pop champagne!!).

But before you buy into the hotties, take your time to understand the reason the market is bullish at this critical time the world is battling a pandemic.

Like I shared in the previous stock recommendations, CBN’s latest monetary policy stance is the reason rates on fixed income instruments are at their all-time low – savings deposit now earns 1.15%, 365-day treasury bill is between 2-3%, while returns on 2-year and 3-year FGN Bonds are in the low range of 4.13% and 5.13%, respectively.

All these paltry returns are in no way close the inflation rate (last reported to be 13.22%) and if you are still considering these options, your money is losing value.

For smart money managers, it makes more sense to hunt for alternative opportunities that offer better returns. This summarizes the reason we are seeing the return of capital in the stock market but you know what? it’s only a few stocks that will attract this new inflow – High-yield Dividend Stocks with Good Fundamentals.

A few weeks ago I recommended UCAP as a stock to watch. The stock has appreciated from N3.01 to N3.33 with more upside in the coming months. As a top to my picks, here are 2 must-own safe stocks to add to your portfolio in the new bull market.

Yes! GTB Stock Will Appreciate to N30

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The banking stocks seems to have benefited most from the price appreciation this week, this is not unconnected to the availability of liquid stocks in the sector – stocks you can easily buy today and sell off without worries – which is no doubt a major factor fund managers look for before selecting potential stocks to invest.

According to NSE weekly report, a total turnover of 1.567 billion shares worth N20.559 billion in 18,396 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.139 billion shares valued at N12.692 billion that exchanged hands last week in 17,109 deals.

Here is the point: The Financial Services industry (measured by volume) led the activity chart with 1.178 billion shares valued at N9.180 billion traded in 9,900 deals; thus contributing 75.14% and 44.65% to the
total equity turnover volume and value respectively
. This tells us that most funds are invested in the banking, insurance and financial related stocks.

Why? I think the recent CBN monetary policy, which has shot the windows of opportunities in the fixed income market, is leaving everyone with no option than to buy stocks. Funds that would have been invested in fixed deposits, treasury bills and bonds are being channelled into fundamentally sound, high-yield dividend stocks – and financial stocks are receiving the highest patronage as evident in the NSE weekly report.

While the banking sector index is down by 15.23% on a year to date, quarterly, monthly and weekly data (which are up by 7.28%, 3.67% and 3.59% respectively) are reflecting the expected bullish run on CBN’s policy directives. Since banks are now lowering their minimum savings deposit rate to 1.15% per annum (10% of the new MPR of 11.5%), their cost of funds should also go down to reflect the recent changes, hence push net interest income.

Although this may not rub off on all banks, I think the big tier banks that already have low-cost fund and effective loan risk management policies will benefit most from this trend. One of the banks to watch going forward is GTB.

Why Now is the Time to Buy Nigeria Stocks

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Now that savings deposit rates and treasury bill are at an all-time low of 1.5% and 2.5% respectively, here are helpful ideas for you to grow your idle cash between now and end of 2020: ignore the market volatility, limit the way you watch your stocks every day, the up-and-down swings can make you exit the market at the wrong time. The temporary market gyration is a normal occurrence, after all, no stock moves in a straight line.

Last week, I posted 2 stocks that are about to appreciate and offer impressive return more as we wrap up Q3. This time, I see a big run on some of the big cap stocks on the NSE market.

With NSE all-share index down by 4.5% on a year to date basis and up by 38% and 1.4% in the last 6 and 1 months respectively, I think it’s makes more to show you the market on a monthly chart.

Below is the NSE all-share index in the last 6 years:

NSE all-share index

After a strong correction that lasted for 2 years, the NSE all-share seems to be showing a possible bullish run that might take the index to 30,000 basis in the coming months. The MACD cross over that aligns with point (D) on the chart tells us what’s next.

Should I Trade Or Invest in GTB Stock?

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When you buy the stock of a company, how do know if you are actually trading or investing? This is a big question everyone looking to profit from the stock market should answer before placing their next trade.

Investing isn’t the same as trading. This a fact that had helped me build a separate stock market portfolio. When a stock goes down or up in 10, 20 or 30 days on a row, I don’t touch my equity investment portfolio rather I buy more units to increase my annual ROI as long as the fundamentals of the company remain intact but if the same suffix on my trading portfolio, I make sure a sell order is immediately triggered to cut my loss (as long as the stock falls below my acceptable support level.)

Trading, on the other hand, involves buy and selling of stocks frequently for capital appreciation. The goal is to generate returns that beat the NSE all-share index. You profit from stock market trading when you master the art of buying at a lower price and selling at a higher price within a short period – which could be in days, weeks or months.

Last week, I ran a check on some of my stock market trainee’s account, only to discover that they didn’t know why they bought a company’s stock, that’s why they can’t control their emotion on a slight share price fall.

How do you know if a stock is good for investing?

Since investing is a buy and hold strategy, it means the stock I buy should possess the qualities of a great business with solid fundamentals like:

  • Consistent year on year growth in sales/revenue, profit and cash flow.
  • Competitive advantage from brand monopoly, innovation or high switching cost. A company that meets these criteria should post an average net profit margin of at least 10% in the last 3-5 years.
  • Conservative debt and high-interest cover.
  • Must be undervalued relative to its market price.
  • Consistent in paying a dividend for at least 7 – 10 years.

2 Unstoppable Cheap Penny Stocks You Should Buy Now.

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Investing in the stock market for capital appreciation is not as straightforward as you might think. It requires both a fundamental analysis of the company you are buying but more importantly, sentiment analysis.

The past 1 year has been one of the most volatile periods on record, with the benchmark NSE all share losing 5-6% of its value on a year to date basis. In fact, this year has undeniably taught short term investors how fruitless it is to try to predict stock price movements with fundamentals.

I hope you are reaping from the capital appreciation on Law Union and Rock after I recommended the stock – click here to see my analysis.

A stock that’s cheap may remain cheap for a long time so don’t get caught in the trap of adopting only fundamental analysis if you are seeking capital appreciation from penny stocks but rather use a little of fundamental and more of technical analysis, price action and sentiments.

Yesterday, I decided to scan the stock market for momentum value penny stocks that have high relative strength, posted improved fundamentals and still on track to appreciate further between now and end of the year.

Here are my 2 top picks:

FCMB

FCMB Group Plc provides financial services including micro-lending, asset management, stock-broking, trusteeship and custodial services, foreign exchange, personal banking, corporate and commercial banking, investment banking and transaction banking products delivering cash, trade and liquidity management solutions to entities.

Fundamentals:

FCMB released a stellar result that beats analysts” expectations; a lot of us had expected a lower top and bottom line but in the bank’s Q2 book, here are the highlight of key figures:

  • net interest income increased from N38,6b to N45.3b.
  • net fees and commission income declined slightly, on higher charges, to N9b (from N10b reported in the previous comparable period).
  • profit after tax increased from N7.5b to N9.7b.
  • EPS also prints at 49k against 38k.

Price Performance and Technical Analysis

In the last 365 days, the stock has appreciated by 30.97% with 6 and 3 months trend up by 34.44% and 18.7%. This is a clear departure from bearish performance witnessed among the bank’s peer and I think that the recent downward review in savings deposit rate will reduce FCMB’s cost of funds, hence spur the bank’s FY 2020 result.

The stock looks cheap at a PE ratio of 2.03 and a Price to Book Value of 0.18. With its 50-day SMA above its 100-day and 200-SMA and market price clearly above averages, FCMB remains a good buy between N1.9-N2.03

United Capital (UCAP)

United Capital Plc is a financial and investment services company. The Company focuses on investment banking, asset management, trusteeship, securities and insurance. United Capital provides services to corporations, governments, high net worth individuals, institutional and retail investors across Africa.

This Insurance Stock Has Doubled Since January, Should I Buy?

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insurance stocks in nigeria

Insurance stocks are the least followed stocks in the Nigerian stock market. But did you know that if you peruse the list of local penny stocks that doubled on a year to date basis, you will find one fairly priced insurance stock that is up by 106% with more room for capital appreciation.

In November 2019, I made a bullish call on this stock at 60kobo with over 50% upside potential to 80-90kobo, and right now this stock has helped shareholders pocket more than 100% between January and August, the same period a lot of stocksare trading at a year and all time low.

Read here – This Stocks Is Among Bullish Leaders in the Insurance Sector

The stock is Law Union and Rock.

Why is the stock trending up?

The company reported a significant increase in operating profit to N181m in Q2, 2020 (from N43m in previous comparable period) which is like 320% growth while its profit after-tax expanded from N37m to N153m, representing 313% growth.

1 Sure Logistics Stock to Buy Before It Appreciates Again

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Logistics companies are no doubt the .backbone of an economy, but stocks in this industry don’t always get the same attention as the banking stocks do, partly because of the monotonous nature of their business – accept parcels from customers or SMEs and send to recipients. With the unexpected disruption of supply chains and the way we buy and sell, this sector is a must-watch for smart investors looking for the next stocks to buy in Nigeria,

My Sure Pick – RedStar Stock – N3.63

Red Star Express Plc engages in the provision of courier services, mail management services, freight services, logistics, warehousing, and general haulage. It operates through the following segments: Courier, Freight, Logistics, and Support Services. The Courier segment involves in express delivery of documents and parcels. The Freight segment includes the clearing and forwarding of goods. The Logistics segment refers to warehousing and chain distribution services. The Support Services segment relates to mailroom management and other delivery services.

I had placed a call on Redstar plc sometimes ago on my Whatsapp group – Nigeria Stock Investors -when the stock was traded for N2.74. This has yielded a return of 32% when you check the market price as of this analysis.

Note: My Whatsapp group is open to premium subscribers only. Reach me on 08084219399.

Financials

In its recent financials, the company reported a 6% growth in turnover to N10.6b and lower operating expenses that helped boost its bottom line figure by 13.9% to N531m (up from N466m recorded in the previous year).

2 Top Healthcare Stocks to Buy Right Now

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Let me say this before I share my current picks, I do not reveal all of my stock picks on this blog. It’s not that I am being evasive. The problem is that it’s not easy for me to post here every day as it’s time-consuming, so I’d rather share my latest stock picks on my Whatsapp group, And if you have been buying my stock picks lately, then congratulations!

I don’t pick stocks like a gambler but with a combination of fundamentals (which tells me what to buy), technical (which tells me when to buy) and sentiment (which tells me the stocks investors love), I have helped my subscribers improve their trade results significantly.

Here are some of the stock market picks I shared on my Whatsapp group:

These stocks have helped early buyers pocket an estimated 15-20%+ return via capital appreciation besides Skyavn went from N1.59 to N2.7, that’s 69% return in 2 weeks. Some other picks were MTN at N98, Ecobank at N4,8, Oando at 2.6, Jaiz bank, and so on.

If you want to join our Whatsapp group, kindly subscribe to my one one one coaching service where I will take you from scratch to becoming a good stock picker. Reach me via Whatsapp on 08084219399

Today, let’s look at two healthcare stocks that will enjoy more rapid capital appreciation in the coming weeks as they look oversold on the chart.

Glaxo Smithkline Consumer Plc

GSK has appreciated by 117% and 33.93% in the last 3 and 1 months respectively. This is not unconnected to the fact that healthcare is the hottest sector right now. With the Covid-19 pandemic shaping the way we live and the unavailability of a confirmed vaccine to fight the spread of the virus, we believe the sector will attract more grants and funds from the government.

Technically, the stock is oversold right now which calls for a gradual positioning ahead of a further share price appreciation which is driven by positive sentiments and improved financials.

In its recent financials, the company recorded a slight decline in revenue but profit after tax was largely supported by cost optimizations. EPS on a trailing twelve-month prints at 78k and if you adjust this by a 9% discount, you will arrive at a fair value of N8.6 which is 14.6% above the market price of N7.5.

May and Baker

Just like GSK, May and Baker stock is worth watching right now. I believe that the same sectoral policies that are driving healthcare stocks rub on this stock. In the last 30days, the stock has appreciated by 25.51% as investors factor in improved financials.

While its recent results show a marginal fall in revenue from N8.5b to N8, a significant reduction in net finance cost helped boost its after-tax profit to N716m against N342m recorded in the preceding year. EPS also grew by 67% to 41k (from 24.75k in 2018).

Using a risk-adjusted discount of 9% on its recent EPS of 41k, the stock is fairly priced at N4.5 which represents 47% upside potential from its market price of N3.05.

Make sure you average down on any of these stocks to cut your entry price.

Disclaimer: Kindly do your due diligence. These are my personal opinion on the stocks to buy next week.

Watch these 3 Penny Stocks as Businesses Re-Open

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The global pandemic has affected a lot of businesses around the world with almost 20-30% expected to close shop if they don’t innovate or activate their business continuity plan. The global stock market isn’t spared either as investors dump their shares for safe-haven assets.

As more measures are been put in place to control the spread of the virus, it is normal for authorities to plan on the strategic re-opening of the economy. With a more relaxed lockdown expected in the coming weeks, I have picked tow penny stocks that will benefit from the resumption of social activities and events while the third, a banking stock with a unique business model is believed to reap from increased issuance of local fixed-income bonds.

In the last 30 days, these 3 stocks that have appreciated by 20%+ return on average, pulled back, and are already showing signs of recovering (supported by unusual volume) from their respective oversold region.

Watch this video to discover the stocks I am buying next week.

Get more stock market updates and ideas by subscribing to my channel:

2 Penny Stocks to Buy for Capital Appreciation

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There are always money-making opportunities available in the stock market. Even amid the current COVID-19 pandemic, there are penny stocks that are poised to emerge stronger, appreciate and deliver handsome rewards to their smart investors that keyed in at lower prices.

I ran a stock screener to scan for more stocks that are benefiting from the current Covid-19 pandemic in the Nigeria stock market, here are the penny stocks I discovered. These two stocks have appreciated by 34.62 and 40.19% in the last 3 months respectively while their month gain is at 18.64% and 29.17%, In the same period, a lot of stocks had shed more than 40-50% of their market capitalization.

Technically, these stocks are trading above their 50-day moving averages, a bullish sign to watch.

If a stock is delivering inflation-beaten return amidst a global pandemic that had affected over 3 million people worldwide, then the company is worth looking into.

Watch this video to discover the stocks I am buying this may.

 

Get more stock market updates and ideas by subscribing to my channel:

Should I Buy GTBank Stock Right Now?

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gtbank stocks

GTBank stock has tested N15-17 three times before rebounding – The first was in 2012, second was in 2016 and the third is 2020.

The banking stock appreciated from N17 to N21, that’s 23.5% profit reward for smart investors that took a position at the support region. As of this analysis, there is a confluence of two indicators – trend line and 50-day SMA acting as near resistance around N21-N22.

In this video, I explained why I quickly took profit on the banking stocks and how I want to take a position again for capital appreciation.

Traders asking for my opinion on GTBank stock should consider going in with half of their funds if they want to hedge against market fall. And If the bank’s stock fails to break out from the N21-N22, we could see a sell-off to its historic support level which is a great opportunity to buy and average down with the remaining half of your funds – this should help reduce the average cost per share.

The second scenario is if the price breaks through the 50-day SMA, then a short term bullish trend is established as new buyers could bid the stock to N27. For me, I am sitting on the fence waiting for either of these scenarios to play out so I can buy the banking stock.

Watch this video and share your comments.

Get more stock market updates and ideas when you subscribe to my channel:

 

Should I Buy or Sell UACN Stock?

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uacn stock analysis

After several delay and unnecessary excuses, I have finally launched a YouTube Channel (Nigerian Stocks to Buy), where you can follow my stock analysis and recommendations. Yes! It’s not easy putting down ideas on this blog but YouTube makes it seamless for me to share stocks picks with visual demonstrations on the chart so that you can learn the technical tools in a simpler way.

Going forward, my stock market analysis will be more of video analysis and less of writing ups:

UACN Stock:

UACN has suffered massive sell-off – from a peak of N70 in the last 6 years to penny stock price of N7.5, after reaching an all-time low of N5.

The stock’s bearish trend isn’t unconnected to the unimpressive financial result of the conglomerate before the company’s management decided to unbundle its real estate segment – UPDC, which spurred a huge stock rally by almost 100%.

As of this analysis, the stock is sitting at the bottom of the market.

In this video, I shared my opinion on UACN stock and how I want to trade the penny stock going forward.

Share your comments and make sure you subscribe.

Get more stock market updates and ideas when you subscribe to my channel:

 

Add These Oversold Covid-19 Stocks to Your Watchlist

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covid 19 stocks to buy

Human nature as we already know is to follow the crowd, so it is normal for you as an investor in the stock market to exhibit similar characteristics.

When I started trading stocks as a beginner, I always hurry up to buy stocks that were going up, thinking that the price will keep going up so I could sell at a profit. However, this often means that I was rushing to buy stocks (let’s say N120 per share) that could have been mopped up at lower prices earlier (let’s say N90) than the day I bought them.

When you think about stock market investment that way, the current purchase price of rising stocks seems more expensive and less attractive.

Do you think reacting to market prices in this manner will help you make money in the stock market? Capital No!
This explains the single reason you need to control your emotion and accept day-to-day fluctuations in stock prices knowing fully well that events or circumstances can cause stocks to spike or fall.
If you are in the market primarily to build a growth portfolio via capital appreciation, the best strategy is to buy beaten-down fundamentally sound stocks at bottom prices and sell back to investors who are rushing to get in at higher prices, this way, you will grow your stock market income year on year.
As you witness sell-off of great stocks because prices are dropping so fast due to uncertainties surrounding COVID-19 pandemic, you can take advantage of the bearish trend by having a watchlist of high-cap companies that are likely to profit from the crisis and buy-in should their stock prices begin to recover from support levels.
Here are some of the COVID-19 stocks I am following right now:

MTN Nigeria

Aside from the stock being at the oversold region, the telecom is expected to benefit from the current global pandemic due to the essential nature of voice and data services which will be more required at a time like this – for instance, medium and larger companies have adopted the remote work model in their business continuity plan, the lock-down is driving banks’ customers to e-channels like mobile app and internet banking portals, and people are more engaged on social networks like Facebook, Whatsapp, Instagram, Nairaland and Twitter as they connect with their loved ones and stay informed of latest updates.
All these are some of the biggest drivers of MTN earnings in 2020 which should add up to its Revenue and Profitability, growing at a compound annual growth rate of 14.8% and 57%.
MTN stock
MTN stock price rejected N90.4 region twice before it started trending up, now at N100, with more upside potentials expected in the coming days.
The Relative Strength Index line and MACD are already showing bullish crossover on the daily chart; more buyers may be on queue to grab a share of the telecom stock right now.
Based on the fundamental and technical analysis, MTN is a buy for (at a price not more than N105) growth investors seeking a modest capital appreciation of 15-22%; this implies that I will likely exit at the 50-day moving average of N122.48.

Unilever Nigeria

Despite the unimpressive performance of this consumer goods stock, I strongly believe Unilever Nigeria will benefit from the panic buying caused by the lock-down of major cities hit by COVID-19. The company sells essential items like Close-Up and Pepsodent toothpaste, Lipton tea, Lux soap, Omo washing powder, Blue band margarine, Vaseline, etc. These are household products people use every day, hence I expect the surge in demand to continue online – from major retail and groceries stores.
I don’t expect the company to suddenly declare profit but it’s certain that Q1, 2020 financials will beat its Q1, 2019 figure especially revenue from its essential items which should impact profitability too and investors’ sentiment.
Unilever stock is heavily oversold on the weekly chart and here is something interesting, I see a bullish RSI divergence on the same timeframe; the index is a showing a higher low while the stock price forms lower low – this is a sign that we might see a short term rally very soon. The daily chart seems to be aligning with the weekly chart as the Relative Strength Index is also rising, now at 44.2, and getting close to 50.
As of this update, Unilever stock sells for N10.5, and I think a close above N11 on higher than usual volume, means the consumer goods stock is set to rally to N18-N20, which represent an upside potential of 71% from the market price.
Disclaimer: The analysis shared here are based on my personal check, kindly contact your financial advisor for a guide on how to pick stocks.

How to Find Bearish Stocks That Will Recover

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find bearish stocks

A stock is said to be bearish when its price has fallen successively week on week as investors react to market news. Such stock tends to fall into a low level where it becomes oversold.

Oversold means that stock prices have decreased substantially to a level sell orders aren’t strong enough to move the price down anymore. One of the overlooked advantages of stock prices in the oversold region is that they most times become undervalued and attractive to institutional investors.

As such a rare opportunity makes the stock a potential pick for bargain hunters and value investors (as long as fundamentals are intact), it is normal for prices to recover and reward early buyers.

Some Trade Examples You Should Learn From:

Zenith bank stock lost 46.25% of its value in one week (from 6th to 13th, March) – the stock dropped from N20 to N10.75, then recovered twice from that support level to N14, that’s like 40% price appreciation.

Another banking stock that rewarded early buyers as it recovers from dip was Access bank. The stock lost 40.26% of its market cap in just 9 days, from N9.04 to N5.4, before staging a comeback. You will notice that the stock rejected the N5.41 support level twice before appreciating bt 22% to N6,65

Buying These 2 Stocks Could Give You 20% Return

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The best thing that happens to us, as stock market investors looking for moderate capital appreciation, is when a good company gets cheap due to overreaction or fear of losing money.

We know that the whole world is battling a pandemic that has hit some industries very heard but there are some few profitable companies, selling at a huge discount, that are showing potentials of appreciating from their multi-year support levels.

Here’s why you should pick these stocks for capital appreciation:

  • GTBank may touch N23

With the price settling below 50-day SMA in the last 3-months and now at N18.85, GTB bank stock has lost 5.28% and 41% of its market value in the last 1 and 3-months respectively.

Recently, the bank’s stock has been appreciating successively for 5 trading days. As of the close of the trade, the stock gained 3% pushing its weekly close to 8.9%.

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