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TRANSNATIONAL CORPORATION OF NIGERIA PLCTRANSNATIONAL CORPORATION OF NIGERIA PLCTRANSNATIONAL CORPORATION OF NIGERIA PLC

TRANSNATIONAL CORPORATION OF NIGERIA PLC

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TRANSCORP trade ideas

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
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
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