UBN Plc Sentiment Analysis Report - W/E April 20, 2012
Sunday, April 22, 2012/ Proshare Research
UBN Plc experienced consistent bargain sentiments during the week to close as top gainer by 26.7% against 20.8% gain recorded in the previous week - sustained and improved bargain sentiment was observed towards the stock in the week. The stock maintained maximum gain pattern in the last ten sessions, indicating strong bargain tendency towards the stock as buttressed by MACD.
Also, the persistent bearish volume trend revealed increased willingness of investors to sell their positions - the trading pattern and price trend suggests mop-up activities on stock.
However, the price position closed neutral and bearish in both short and mid-long term period, indicating the stock is yet to enter bullish mode.
Technical conclusion on sentiments: there is a moderate possibility for the stock to extend the price uptrend in the coming periods. The continued bearish volume calls for cautious trading, though a waning bearish volume was observed in the last trading session.The chart below shows MACD, candlestick, RSI and volume analysis.
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