After 129% one year price growth, Dangote flour is set to add more. Fidelity, Access, NB Plc are other stocks to watch Wednesday

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Afuwape Gbolabo

The last two trading days of November had not followed a straight pattern in the last five years however; technical indicators are more in favour of positive performances Wednesday.

You may want to watch these hot stocks for Wednesday. Please note that the market and stock prices are autonomous and might choose their paths independent of predictions.

  1. Dangote Cement: 

The stock had gained 38.5% so far in 2017, 7.6% in November but currently selling at N241 which is few points below its year’s highest price of N245.17 touched in July. Keep tab on its movements as there are possibilities of touching and slightly moving slightly higher though slowly.

  1. Access Bank: 

The stock price gained 19 kobo or 1.96% to close at N9.90 Tuesday and yet closed with excess bid of 2.5million units without an offer. Early trading is bound to be favourable though anything is possible intraday.

In 2017 alone, holders to Access have gained 68.7% and in November, marginal 1%. The price will sure consolidate at around N10 after which it is bound to approach the 10.89 price level Always keep in mind its 2017 Q3 EPS and current P.E. Ratio of 3.98.

  1. Fidelity Bank: 

The stock closed Tuesday at N1.81 or a growth of 4.02 percent. With 1.58 P.E. Ratio, how low does the price of a stock needs get to be attractive?

115.5% has been the growth in Fidelity so far in 2017 while 19.15 is the growth so far in November. What else should an investor desire? The bid size of about 430,000 against an offer size of 270,000 Tuesday suggests a mixed open. Keep tab on this stock as indicators are looking up.

  1. Dangote Flour: 

This is a stock to hold at least for the medium term. Products, brand and ownership are all going on well with the company.

Its stock price went as high as N9.90 but closed Tuesday at N9.75. The 642,000 units bid size and 590,000 offer size at close of trading Tuesday suggests a mixed open Wednesday. Keep in mind the fact that the company’s P.E. Ratio at 3.15 is good enough. Technically, a doji was formed at the close of trading Tuesday suggesting that price could move either way.

Dangote flour had fetched 129.4% in 2017 and in November, 2.3%.

  1. UBA:

Conveniently, UBA had returned 120% to holders of its stock in 2017 of which 3.1% was added in November and 0.4% Tuesday. Losing with offer size above the bid size Tuesday suggests a turbulent open on Wednesday. UBA is good enough with N1.74 2017 Q3 EPS. Keep your gaze on the stock.

  1. NB PLC:

Closing with bid size of 191,000 without a single offer suggests that holders are not willing to sell at N133. Will interested party shift? NB open most likely will be possible though anything is possible intraday.

Technically, indicators are looking up as it sells around its six month’s lowest point.

So far in 2017, NB had recorded a loss to its holders.

  1. ETERNA OIL:

Indicators are looking up. Earnings are positive. It also closed with over 640,000 bid size without any offer Tuesday. Consequently, Wednesday looks bright.

35.85 is the price growth so far in 2017. In November, the stock price recorded 13.8% price growth out of which 5% was added Tuesday.

  1. AFRIPRUD:

15.257 million units excess bid and just 34, 370 units offer size to close trading session on Tuesday is a clear indication that Afriprud is hot. It gained 2.4% Tuesday.  Guess what? Indicators are yet looking up.

Afriprud has only returned 26.6% in 2017 and in November, negative 0.5%.

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