JAPAULOIL on strong demand, extends maximum gaining streak


Tuesday, June 24, 2014 5:14 PM / Research


Today, JAPAULOIL experienced an impressive patronage with huge volume to record another 10.0% gain, extending a 3-day gaining streak. This indicates a strong optimism from both the investors and shareholders in the recent week as the stock maintained active gaining pattern.



The stock had recorded +17.9% price appreciation so far in the new week, reflecting a renewed and active positive sentiments towards the stock. this further suggests an (un)known changes in the fundamentals of the firm.

In the recent sessions, the stock had maintained a steady bargain trend to hit 24weeks high, closing at N0.66kobo. The stock may erase the loss recorded so far in the current year. This further indicates a renewed shareholders’ loyalty after a prolonged flat posture of the stock.

In the same vein, technical indicators revealed a growing bargain tendency towards the stock to close bullish in short term and remained neutral in mid-long term periods as suggested by price moving averages.



Meanwhile, the price position above upper Bollinger band by 24.5% further buttressed the sustained active bargain tendency noted above with an increased chance to extend the uptrend.



However, it should be noted that the stock is currently at an extreme overbought region as suggested by price RSI, which may incite cautious trading towards the stock anytime soon.

In addition, price analysis revealed moderate performance trend as the stock posted +32.13% gain as its 3months and 6 months returns respectively while its 52weeks and YTD performance respectively stood at +26.92% and +22.22% gain respectively.

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