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STANBIC IBTC HOLDINGS PLC
Short

STANBIC IBTC DISTRIBUTION AT THE PEAK.

By davepop2006
Updated
There are signs of distribution by the institutional trader at the top.
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POSSIBLE SIGN OF DISTRIBUTION.

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Price is now below EMA20
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Price is below the demand zone validating possible distribution both on weekly and monthly chart.

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The stock is already on a downward trend.
support line/demand zone broken at N40.00
The next support level is at N24.00 and N14.00.

December candle formation is an inside day bar.
The direction of the coming month price action will determine the stock direction.

The stock is under close watch for the next entry point. You like to receive a future update on the next entry points for a profit. Please follow us and like our page. 15/12/2019
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tradingview.com/chart/SQBYIMZx/
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Beyond Technical AnalysisChart PatternsibtcnigeriastockmarketnsebankSTANBICstockmarketanalysisstocktradingTrend Analysis
davepop2006

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