Sunday, May 06, 2012/ Proshare Research 
 

ACCESS BANK Plc bounced back with strong bargain tendency and improved positive sentiments to top the week with 16.3% gain as against -2.7% loss recorded in the previous month.- strong bargain tendency with impressive bullish volume trend was witnessed in week as stock closed above its short term resistance level at N6.61 to settle at N6.78. 
 

The stock appeared bullish in short term as shown by price moving average, reinforced by MACD. The continued flow of money into the stock and sustained accumulation pattern, which was driven by bullish volume, was noticed in the week.
 

Technical conclusion on sentiments: The stock has moderate possibility to extend the uptrend for few sessions before possible short term pull-back as we have not seen weakness in momentum while the Bollinger bands reveals no conclusive future volatility or price movement. The chart below shows MACD, candlestick, RSI and volume analysis.

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

Disclaimer: The information provided herein is our opinion only. Under no circumstances do any statements here represent a recommendation to buy or sell your stocks or make any kind of an investment. You are responsible for your own due diligence. To summarize, we do not provide recommendations nor do we make any claims or promises that any information here will lead to a profit, loss or any other result. They are for your guidance purpose only.