Fresh Demand boosts DANGFLOUR, retraces from 6Mths low

Proshare

Thursday, July 09, 2015 5:14 PM / Research

Today, DANGFLOUR experienced renewed and moderate bargain optimism despite heavy sell-down on the bourse. The stock halts 13wks sell activities with +4.00% gain, after hitting its 6months low at N3.29kobo - an indication of renewed investors’ loyalty



The outlook in the last 3months revealed price correction pattern as investors booked profit - a function of weak fundamentals. The stock had shed -35.99% after hitting its year high at N5.14kobo recorded on April 14th 2015.



However, technical indicators revealed waning sell pressure towards the stock while the stock remained bearish in short term but closed neutral in mid-long term periods as revealed by it price moving averages.
 



Also, the price analysis reveals unimpressive performance outlook as the stock posted -23.66%  and -24.67% loss as its 3months and 6months returns respectively while its 52weeks and YTD performance stood at -58.29% and -24.84% loss respectively.



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

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3. FLOURMILL Price hits 5yrs low on sustained bearish fundamentals

4. Continued loss position threatened hope for recovery - Dangote Flour Mills Plc

 

 

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