IKEJAHOTEL extends reversal trend on gap-up rally

Proshare

Wednesday, January 28, 2014 5:14 PM / Research

  

Today, IKEJAHOTEL experienced improved bargain tendency with a break-away rally pattern- an indication of strong renewed enthusiastic trading from both investors and shareholders.

 

In the recent weeks, the stock had experienced active sell-down to shed -34.84% between December 5th 2014 and January 26th 2015.



Market outlook in the recent session suggested a reversal trend as investors displayed fresh bargain optimism towards the stock while holding its strong support level firm at N2.55kobo with corresponding sharp northward movement in price momentum.



In addition, technical indicators revealed improved active bargain tendency towards the stock to confirm a reversal signal as sell pressure waned while the stock closed neutral in both short term and long term periods. 



Furthermore, price analysis revealed mixed performance outlook as the stock posted -3.54% loss and +275.00% gain as its 3months and 6months returns respectively while its 52weeks and YTD performance stood at +275.00% gain and -18.92% loss respectively.



Conclusively, sub-sector/peer analysis further revealed the stock to be the top performing stock in the last one year, which further suggests that the sentiments within the sub-sector remained positive towards IKEJA

Conclusively, sub-sector/peer analysis further revealed the stock to be the top performing stock in the last one year, which further suggests that the sentiments within the sub-sector remained positive towards IKEJA


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4. IKEJAHOTEL hits historical high at N3.34kobo with upper breakout

5. IKEJAHOTEL declares N2.6million loss in Q3 14 result SP N2.68k

 

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