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Review of Support and Resistance Levels of Price Trend For The Week Ended 7 December 2012 On The Nigerian Stock Exchange
Review of Support and Resistance Levels of Price Trend For The Week Ended 7 December 2012 On The Nigerian Stock Exchange
index is giving indication of strength again. The Food and Beverage/NSE 30 are showing likelihood of continuing upward trend. The market is about to recover some of the recent losses.
Comment on Specific stocks: PZ, Dangote Sugar and Fidson are showing very strong support levels. UBA and Honeywell Flour also show a fair level of support. d From next week, this review is likely to take another format. The support and resistance levels to be indicated would be based on chart patterns. This is simpler to implement and it works very well in determination of profitable exit and entry levels. The only thing is that these analysis are with special indicators/rules. I assure my readers that you are assured of better analysis than what you have seen in the past. Thanks for a number of free trading platforms, were you can test some of the indicated entry levels (send mail to me, to get the address for one of these free trading platforms), this new analysis works like magic. You are not likely to miss the major moves. You can figure out what I am saying, some stocks do move 100% to 50% within one month (this is the kind of move we want to catch), I just missed one recently, where I bought a stock on Tuesday and by Friday I saw 30% gain, I was very suppressed. See you next week.
SUMMARY OF CHANGES (YEAR TO DATE) MAJOR INDEXES FOR THE WEEK ENDED 7 DECEMBER 2012
Indexes
All Share Index Stochastic NSE 30 Stochastic NSE OIL AND GAS Stochastic NSE FOOD & Bev Stochastic NSE INSURANCE Stochastic-
Week Ended 7th December 2012 28.66% +77.58% 37.11% 84.56% -31.0% 78.27% +36.69% 56.05% -18.26% 9.97%
+14.01% 3.89%
Source http://www.bloomberg.com/markets/indexes/country/nigeria/ Other columns are left blank as getting the data will be too tedious compared with the benefit. This is one of the reason the chart pattern will be better. The mathematical system gives full confidence, but it takes an unreasonable effort especially when you miss to get the data by the close of the week. A) 3 WEEKS SUPPORT AND RESISTANCE- INDIVIDUAL STOCKS
UBA PLC
Week Ended 7th December 2012 4.56 4.21 4.73 40.51 Buy Zone
DANGOTE SUGAR
Week Ended 7th December 2012 5.75 5.55 5.85 96.0% Buy/Neutral Zone
PZ
Week Ended 7th December 2012 29.00 25.81 30.59 80.09 Buy Zone
Fidson
Week Ended 7th December 2012 1.04 0.98 1.08 56.95% Neutral/Buy Zone
HONEYWELL
1.82 2.20
1.88 2.17
ACCESS
Week Ended 7th December 2012 9.00 8.44 9.28 73.61% Buy/Neutral Zone
TRANSCORP
Week Ended 7th December 2012 0.95 0.87 1.01 73.67% Neutral
To ask for these point for other stock? You can send me an email as per the details below.
Writer: Yusuf Kelani ACA. Final Securities Trading Certification from Ghana Stock Exchange. I am available to join a stock brokerage as Technical Analyst (on part time or full time basis) or as a Consultant if given the opportunity in any English Speaking Country. Explanation of Terms: Support: Price at which on can start thinking of buying. This is like saying get set to buy. It is a forecast buying Zone. You may need other technical rule to guide you on actual entry. For this you can call or e-mail me.
Resistance: Price at which you should think of selling/taking some profit or exercise caution in buying at this price.
Caution: Investing is a risky venture. This is just my opinion and I cannot be liable for any loss suffered as a result of following this recommendation. Contact: +233247429534,+2348023054935, E-Mail- kelanio2002@yahoo.com