Get started
TRANSCORP (NGN) Breaks Out of Consolidation – Potential UpsideTRANSCORP (NGN) Breaks Out of Consolidation – Potential Upside Ahead TRANSCORP has successfully broken out of its immediate consolidation zone and is currently trading at ₦61. If this breakout is sustained, it presents a promising opportunity for bullish momentum. Given the current market structure, I am looking to maintain a buy position around ₦58 - ₦61, with ₦70 and ₦80 as my key target price (TP) zones. As with all trades, patience is essential, and I am prepared to hold my position strategically for optimal returns. Trade wisely and manage risk accordingly.
NSENG:TRANSCORP
by ForexClinik
I am optimistic about the outlook for STANBIC stockI am optimistic about the outlook for STANBIC stock. Currently, Stanbic IBTC Holdings (STANBIC) on the NGX is trading above a rising trendline that is providing solid support. While I am bullish on the stock, I am awaiting a pullback to the N57 level to execute my two planned entries. To manage risk, I will set my stop loss at the N51.25 level for both entries. My first target price (TP1) is N68.6, aligning with the FIB61.8% retracement level. For my second target (TP2), I am setting my sights on the all-time high (ATH) zone, which is N83.
NSENG:STANBICLong
by ForexClinik
4
Where Is TRANSCORP on NGX Heading Next?TRANSCORP recently broke its previous all-time high (ATH) of ₦53.5, setting a new ATH at ₦54.5. However, the bullish momentum did not sustain, and the price has retraced to the ₦50 zone, which is now acting as a key support level. Currently, there are no strong fundamental drivers indicating the possibility of a new rally. This raises the question: Could we see the price decline further to the ₦46 zone, a level that has served as strong support multiple times in the past? The Nigerian Exchange (NGX) has been quite volatile recently, and TRANSCORP is no exception.
NSENG:TRANSCORP
by ForexClinik
Unilever Stock on NGX: Technical Analysis and ForecastUnilever stock on the NGX reached its all-time low of ₦10 around March 30, 2020, during the global market downturn. From March 2020 to November 4, 2024, it traded in a range between ₦10 and ₦20, consolidating within this zone. On November 4, 2024, the stock broke out of the ₦10-₦20 range, signalling the start of a bullish rally that has since propelled the price upward. Currently, the stock has completed a 50% retracement from its last highest point, a significant level often observed in technical analysis. Additionally, its present price is at the FIB 50 level, a key resistance zone that could determine the continuation or reversal of the upward trend. Traders should closely monitor ₦40, as it represents a significant psychological and technical level to watch for further price action. Forecast: If the price breaks above FIB 50, it may continue its rally toward the ₦40 zone. A rejection at FIB 50 could result in a pullback to test lower support levels.
NSENG:UNILEVERLong
by ForexClinik
OKOMUOIL Hits a New All-Time High (ATH) on NGXOKOMUOIL Hits a New All-Time High (ATH) on NGX OKOMUOIL on the Nigerian Exchange (NGX) has reached an impressive new All-Time High (ATH) of N440, breaking past its previous high set between August and September 2024. A Quick Recap After hitting its last ATH, OKOMUOIL retraced close to the Fibonacci 50% level, stabilizing around the N334 zone before regaining momentum. This healthy pullback provided a solid foundation for the current bullish breakout. The Key Question: What’s Fueling OKOMUOIL? Several potential drivers could be behind this recent surge: Strong Fundamentals: Increased earnings, strategic expansions, or operational efficiency improvements could have boosted investor confidence. Market Sentiment: Positive sentiment around the agricultural or oil palm sector may be driving increased demand for OKOMUOIL shares. Macroeconomic Factors: Government policies favoring local industries or rising commodity prices could be contributing to the upward momentum. Technical Outlook With the breakout above N440, the next step is to watch for potential consolidation or further rallying. Key areas to monitor include: Support Levels: The N440 breakout level and the previous pullback zone at N334. Fibonacci Extensions: These could help project potential future price targets. Final Thoughts OKOMUOIL’s price action reflects a strong bullish trend, but traders and investors should remain cautious. Understanding the fundamental catalysts and monitoring technical levels will be key to navigating the next move.
NSENG:OKOMUOIL
by ForexClinik
1
GTCO Faces Stiff Resistance at its 2018 All-Time HighGTCO Faces Stiff Resistance at its 2018 All-Time High. Guaranty Trust Holding Company (GTCO) continues to grapple with breaking past its 2018 all-time high (ATH), a significant technical resistance level that has challenged the stock since November 2024. Despite showing moments of strength, the stock has been unable to sustain momentum above this critical level. This persistent struggle suggests that investor sentiment may still be cautious, with the ATH acting as a psychological and technical barrier. For GTCO to convincingly surpass this level, it may require a strong catalyst—either in the form of robust financial performance, positive macroeconomic news, or heightened buying interest from institutional investors. Traders and investors should closely monitor volume trends and price action around this resistance zone. A decisive breakout accompanied by increased trading volume could signal the start of a new bullish trend. Conversely, repeated rejections could lead to a pullback, making the stock vulnerable to further corrections. Hopefully, GTCO is going to be among the stocks on NGX breaking ATH this year.
NSENG:GTCOLong
by ForexClinik
Transcorp Stock Analysis and ForecastTranscorp Stock Analysis and Forecast Transcorp's stock is currently testing its All-Time High (ATH) of approximately N53.5. This is a critical resistance level that could determine its next movement. Bullish Scenario: If buying momentum remains strong and the stock successfully breaks and sustains above the ATH, we could witness a significant upward trend as the stock moves into uncharted territory. Bearish Scenario: However, if the resistance at the ATH holds, a temporary pullback is likely. This retracement could offer an opportunity to enter the stock at a more favourable price point. The overall market sentiment appears bullish with the current high demand for Transcorp shares on the Nigerian Exchange (NGX). As such, monitoring price action closely around the ATH is advisable to make informed entry or exit decisions.
NSENG:TRANSCORPLong
by ForexClinik
FTNCOCOA FTN Cocoa Processors PlcFTN Cocoa Processors Plc price action just formed an inverse head and shoulders pattern. Current price: 2.00 (at Neckline Resistance) Investment buy reasons: 1. Notable higher highs created from 0.94 to 1.47 2. Current price is a low risk buy, as price action has retraced over 50% from all time high of 4.1 Profit taking areas if price action breaks neckline resistance: 2.97, 3.96 Note: This Analysis invalidates below. 1.47 Disclaimer: This is for educational purposes only and does not constitute financial or investment advice. Always do your own research and consult with a professional before making any investment decisions.
NSENG:FTNCOCOA
by Ifiok-Trades
1
My Nigerian Share Picks for the first quarter of 2025In this video, I analyzed my share picks from September - the last quarter of 2024 and found by analysis an over 50% increment in portfolio. If you want to have my share picks for first quarter of 2025. Please visit tally.so Breakdown for the last quarter of 2024; Average % Change: About +54.53% across 19 shares Largest Gain: SUNUASS with +597.67%. Largest Decline: DAARCOM with –11.27%. Stocks with Notable Increases SUNUASS (+597.67%) is an extreme outlier, far exceeding other gains. Several others also showed strong growth, notably: #UBA (+48.29%) #STERLING (+47.06%) #NEM (+44.74%) CSE:ETI (+33.97%) NSENG:ROYALEX (+30.77%) $FTNCOCO (+30.43%) Stocks with Moderate Increases VITAFOAM (+36.57%), WEMABA (+40.31%), JAIZBANK (+38.89%), ACCESSC (+26.91%), FBNH (+27.73%), and UPDC (+23.85%) also contributed significantly to the overall positive trend. Stocks with Declines Only three recorded losses: DAARCOM (–11.27%) CHAMS (–5.85%) NASCON (–8.82%) The declines were relatively small compared to the large gains seen elsewhere. Overall, this set of shares leans strongly positive, with a few exceptions.
NSENG:GUINNESS
by Ifiok-Trades
2
Guinness Nigeria PLC ... time to buy?So! Guiness NIgeria PLC price action just formed a Cup and Handle pattern. The chart could also double for an inverse head and shoulder. Current price: 60.25 Investment buy reasons: 1. Notably, a high volume buy of over 49.5m just entered into the market. 2. Current price is the low price of 2017 and hence Low Risk Buy Profit taking areas if this analysis proves right: 107, 170, 212 Analysis invalidates below 49 One of the questions i get: "why you charting stocks?". Really? Isn't Price action involved in it's movements?
NSENG:GUINNESSLong
by Ifiok-Trades
FIDELITY: A CLEAR PATH FOR THIS CRUDE ECONOMYNigeria's economy has shown remarkable resilience in the second quarter of the year, defying expectations and paving the way for a promising outlook. Despite global challenges, the West African nation has made significant strides in key sectors, setting the stage for a robust performance in the remaining half of the year. Under the leadership of Governor Cardoso, the CBN has implemented policies aimed at diversifying the economy, improving the business environment, and boosting investor confidence. These efforts have started to bear fruit, with notable gains in: - Agriculture: Increased investment in the sector has led to enhanced productivity and exports. - Infrastructure: Ongoing projects in transportation, energy, and telecommunications are expected to drive growth. - Manufacturing: Improved policies have attracted foreign investment, boosting production and job creation. With these positive developments, expectations are high that Cardoso's mandate will: - Foster sustained economic growth - Enhance Nigeria's global competitiveness - Create jobs and improve living standards As the economy continues to gain momentum, Nigeria is poised for a remarkable turnaround.
NSENG:FIDELITYBKLong
by My-Erow