The market sentiments review of activities in the equities market for the week ended April 13th, 2012 revealed a volume growth in Transcorp Plc, (the conglomerate sector leader by capitalisation), as the stock experienced a significant volume surge by 5393% with a -3.8% fall in stock price.
Technically, this indicates a potential cross-deal in the stock during the week.
Transcorp Plc traded a significant volume of 611,139,584 shares during the week, precisely on Thursday, April 12, 2012 and closed the week with a total traded volume of 640,486,585 shares reflecting an institutional position-taking.
However, this does not suggest bearish sentiments toward the stock as revealed by our sentiment analysis for the week as the stock rallied by 4.0% the following day and closed flat for week, recording a second consecutive weekly flat position.
Follow weekly sentiments on this stock and others here.
Furthermore, the said volume appeared to be the highest so far this year with an astronomical volume growth of 5393% while it (the volume) significantly surpassed the year daily average of 12,107,671.89 and 15-days moving average of 11,828,895.60 by 4948% and 5066% respectively.
The analysis of the stock’s price trend in the last one year revealed an unimpressive price performance as revealed in the chart below.
The big volume (though bearish), usually signifies big money and significant interest from institutional investor(s). Buttressing this further, the northward turn in the Money Flow Index and Accumulation/Distribution index would suggest the possibility of short term rally in the coming periods. Also, the RSI revealed an uptrend momentum in the last trading session.
Technically, the emerging sentiments suggest a moderate possibility of short term rally in the coming periods.
The significant surge of 5393% and 1080% in volume above previous volume and 15days volume moving average respectively revealed institutional buying/interest while the sharp northward turn in Money flow index and RSI revealed an uptrend momentum.The chart below shows MACD, candlestick, RSI and volume analysis.
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