- Fidelity Bank:
The stock closed N1.74 Monday despite the selling pressure on bank stocks. Current price still largely favours a further rise in price. Before the week runs out, its target of N1.77 might be achieved. Good to be held beyond the short term.
- Dangote Sugar:
Though closed with excess offer, possibilities yet are high. Having broken its 52-weeks resistance after closing Monday at N17.81, a new resistance is bound to be set. Notably, the closing offering price of N18.10 might be the start point Tuesday.
- Dangote Flour:
The stock gained 37kobo to close at N9.60 Monday. Willing sellers to close trading activities were willing to so do at N9.92. They had only few quantities to offer. As willing buyers who were more, only bided at N9.50 before the close of trading Monday, we wait to see who shifts first Tuesday as the stock is bound for attentions intraday. Please note that the significant growth in the company’s 2017 Q3 earnings to N2.55 from the previous 57 kobo with P.E. Ratio at 3.01, makes the stock more attractive not just in the short term but in the medium term all things being equal. Expectedly current level of resilience will be sustained as it moves close to attaining its 52 weeks’ high of N9.97.
The stock started the week growing 3.31 percent. It however lost steam at closing bell as bid waned out. Indicators are looking up for a brighter Tuesday performance all thing being equal.
- Dangote Cement:
The stock which has largely maintained its N240 in the last one week remains a major force in the market. There are indicators that it is attempting the N245.17 to break its 12months high.
- Access Bank Plc:
The closing bid is attractive. The closing offer price is also indicative of the fact that willing sellers are not willing to just throw off the stock. Who shifts first? Daily indicators are however looking down.
The shareholding distribution and recent diversification of operations are key factors to consider in the stock. Short to medium term hold is advisable. Closing bid Monday makes the stock suitable to watch Tuesday. Offer price and the little quantities being offered make the stock attractive though technical indicators are looking down.
Watch out for Guaranty, Zenith and FBNH though mounting pressures on the industry might likely subsist Tuesday.