Sunday, April 22, 2012/ Proshare Research

Continsure Plc recorded negative and bearish sentiments in the week just ended to close with a -13.2% loss as against the -1.1% loss recorded in the previous week – on the back of continued and growing bearish sentiments observed in the week as the stock maintained its downtrend in the last three weeks. The stock appeared depressed due to the sustained downtrend momentum as revealed by the RSI while the MACD buttressed the bearish sentiments as its price closed far below signal line.
 

However, in the last trading session, the price moving average revealed a bullish trend in mid-long term while the stock closed neutral in short term- this indicates that the stock is moving out of bearish mode gradually.
 

To buttress this further, the candlestick pattern revealed a reversal signal in the last trading session, suggesting incoming bargain tendency. 
 

Technical conclusion on sentiments: An overwhelmed sell tendency was observed in the week as the stock closed depressed. Nevertheless, there is a possibility of a trend reversal anytime soon as its depressed posture could incite moderate buying as witnessed in the last session; and buttressed by the candlestick pattern. Though, the reliability of the reversal signal is low. The chart below shows MACD, candlestick, RSI and volume analysis.

http://www.proshareng.com/quote/CONTINSURE 

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