DANGFLOUR Plc Sentiment Analysis Report W/E May 11, 2012
Monday, May 14, 2012/ Proshare Research
DANGFLOUR Plc experienced a strong bargain tendency in the week to record 26.8% gain against 9.00% recorded in the previous week - sustained buying and impressive positive sentiments was observed towards the stock in the week while the stock recorded a new high of N6.01 slightly above the N6.00 recorded on 6th Jan 2012.
The stock witnessed active bargain trend, recording maximum gain throughout the week while the price position above upper Bollinger band buttressed the strong bargain tendency.
This suggests that the price uptrend has a good chance to continue as the stock appeared to be in bullish mode as revealed by its price moving average and buttressed by MACD, though the volume trend revealed more of distribution in the week while money index flow recorded a zigzag pattern, indicating unstable money flow into the stock.
However, the stock closed in the overbought range as revealed by RSI buttressed by price position above upper Bollinger band, suggesting the possibility of short-term pull back within the bands while price volatility is not in doubt as the bands are wider than normal.
Technical conclusion on the sentiments: The stock remains bullish in the short term, indicating the stock is yet to attain full bullish mode while short term pull-back is possible in near term with moderate reliability due to its overbought posture as revealed by RSI. Nevertheless, the stock appears positioned to sustain its uptrend, considering its gain pattern.The chart below shows MACD, candlestick, RSI and volume analysis.
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