Guaranty Trust Bank Plc Sentiment Analysis Report W/E 050412
Tuesday, April 10, 2012/ Proshare Research
GUARANTYexperienced a moderate bargain in the week to record 7.5% gain against -5.7% loss recorded in the previous week-
The stock enjoyed a moderate bargain sentiment in the week and ended the week with speculative trading pattern.
More so, the trend remains bullish as suggested by MACD while the stock is trading above signal line. Similarly, the price moving average revealed a bullish trend in short and long term period.
However, the emerging sentiments appeared bearish, considering the candlestick pattern which suggests a trend reversal-(short term reversal), buttressed by the bearish day experienced in the last session.
Also, the money flow index closed southward in the last trading session as distribution sets in buttressed by a bearish volume while the RSI showed a weak strength.
Technical conclusion on sentiments: The emerging sentiments appeared bearish. We advised a cautious bargain as short term price reversal is possible. The last trading session was dominated by the bears according to the candlestick pattern while we observed distribution on the last trading day with corresponding bearish volume.
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