Wednesday, September 02, 2015 5:14 PM / Research
Today, CUTIX recorded an astronomical growth in its bullish volume while extending its recovery pattern from 34weeks low, with another maximum gain of 9.90% to close at N1.55kobo.
This revealed strong optimistic trading from both the investors and shareholders towards the stock despite general profiteering observed on the bourse.
The bullish volume surged by 315.96% with corresponding impressive price movement, which further showed the enthusiastic postures of investors. The volume traded closed at 0.536Million in just 13 trades, representing 0.06% of the share outstanding of the firm.
Furthermore, extensive analysis further revealed possibility of big interests towards the stock, taking advantage of weathered market price.
The market outlook so far in the year revealed strong mixed sentiments as the stock had shed weight by -25.41% in 13weeks price correction trend to hit 34wks low at N1.35kobo, after hitting its year-high at N1.81kobo on June 2nd 2015.
In a similar vein, technical indicator further revealed growing bargain postures with similar pattern in price momentum while the stock remained bearish in both short-term and mid-long term, indicating improved bargain appetite towards the stock as suggested by its price moving averages.
However, price analysis revealed mixed performance trend as the stock posted -14.36% loss gain and +3.33% gain as its 3months and 6months returns respectively while its 52weeks and YTD performance stood at -18.42% loss and +19.23% gain respectively.
1. CUTIX Declares N43.52 mln PAT in Q1 16 Result SP N1.42k