Thursday, December 04, 2014 5:14 PM / Research
Today, IKEJAHOTEL broke out of consolidation pattern to hit new historical high at N3.99kobo with moderate gain of 5.00 on the back of sustained and active bargain tendency to record.
This indicates a growing positive sentiment towards the stock amid continued and active sell-down on the Nigerian bourse.
In the recent weeks, the stock maintained a successive higher highs pattern, which further points to improved fundamentals and sustained shareholders’ loyalty.
The stock had recorded +418.00% of price appreciation in the last 4 Months, following a prolonged downtrend experienced between year 2011 and early 2014.
Technical indicators revealed a sustained bargain tendency towards the stock to close bullish in both short term and mid-long term periods- an indication of sustained presence of the bulls, driven by unknown improved fundamentals noted above
Conclusively, price analysis revealed an impressive performance outlook as the stock posted +375% and +343.33% gain as its 3months and 6 months returns respectively while its 52weeks and YTD performance stood at +432.00% and +411.54% gain respectively.
1. Ikeja Hotel Setting up the benchmark of the Bull Run