ACCESS BANK Plc Sentiment Analysis Report - W/E May 04, 2012
Sunday, May 06, 2012/ Proshare Research
ACCESS BANK Plcbounced 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.
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