IKEJAHOTEL records NEW historical high at N3.99kobo

Proshare

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.


Related News:
1.
Ikeja Hotel Setting up the benchmark of the Bull Run

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

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

 

READ MORE:
Related News
SCROLL TO TOP