DANGFLOUR sustains sell-off pattern, slips into extreme oversold zone

Proshare

Tuesday, November 25, 2014 5:14 PM / Research

  

Today, DANGFLOUR closed with another moderate loss of -4.90% to extend the sell-off trading pattern while investors continued with the prolonged negative sentiment towards the stock.

The stock closed battered and depressed in an extreme oversold zone among bearish stocks on the Nigerian bourse, shedding -34.42% in the last nine months



In addition, the stock recorded a lower breakout, hitting below lower Bollinger band by 43.00% as sell pressure gained tempo on moderate bearish volume to fully assume a full bearish posture.

This further revealed growing unwillingness positions of both investors and shareholders towards the stock as bargain appetite remained low- an indication of sustained bearish fundamentals.


The market outlook so far in the year revealed a continued sell-off trend while the stock had shed by -39.22% so far in the year



Furthermore, the stock closed bearish in both short and mid-long term periods as the relationship between the stock and its moving averages suggests. This is to buttress the unwillingness to hold the stock by both shareholders and investors noted above.



Also, the price analysis revealed unimpressive performance as the stock posted -16.93%  and -22.13% as its 3months and 6months returns respectively while its 52weeks and YTD performance stood at -35.97% and 39.22% loss respectively.



Conclusively, sub-sector/peer analysis further revealed the stock to close among worst performing stocks in the last one year, which further suggests that the sentiments within the sub-sector remained negative towards DANGFLOUR


 

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1DANGFLOUR Investors dump shares Price Hits new 52wks low

2. Decrease in cost of sales lowers operating loss

3. DANGFLOUR declares N4.3billion loss in Q3 14 results SP N7.55k  

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