ACADEMY retraces from all-time low on fresh bargain appetite

Proshare

Thursday, July 02, 2015 5:14 PM / Research

Today, ACADEMY recorded an impressive gain of 4.60% to retrace from all-time-low of N0.87kobo after prolonged sell-down activities. This reveals an improved optimism towards the stock despite the active pessimistic trading witnessed during the bearish session.



In addition, the stock moved out of oversold region as sell pressure waned moderately to close at N0.91kobo, holding new support at N0.87kobo (all time low). Just as noted above, this indicates renewed risk appetite towards the stock.

The market outlook in the recent months reveals sustained lacklustre trading pattern while the stock maintained downtrend since 2010 after hitting its year at N7.21kobo on January 28th 2010, recording -87.93% loss.




Furthermore, technical indicators revealed an improved bargain tendency towards the stock while it remained bearish in both short and mid-long term periods as revealed by price moving averages. Also, a corresponding up surge was observed in price momentum while money flow index recorded similar pattern accordingly.



Nevertheless, the price analysis reveals unimpressive performance outlook as the stock posted -14.15%  and -22.88% loss as its 3months and 6months returns respectively while its 52weeks and YTD performance stood at -46.78% and -22.88% gain respectively.

 



Conclusively, sub-sector/peer analysis further revealed the stock to be worst performing stocks in the last one year, which further suggests that the sentiments within the sub-sector remain negative towards ACADEMY

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