Mobil books Biggest one-day loss on fresh sell-down

Proshare

Wednesday, November 04, 2015 5:14 PM / Research

Today,
MOBIL closed with strong bearish outlook to book huge loss of 9.70%, initiating fresh sell-off pattern after 2weeks of flat posture. This indicates strong negative sentiments from investors during the turbulent session.

Analysis revealed active price correction tendency towards the stock, having maintained sideways trading pattern after short-term (5weeks) gain of 12%.

Also, it was observed that the stock sustained 30weeks of low-key bargain posture after hitting its year high at N175.00kobo on April 2nd 2015. This shows that the stock had shed 20.58% of its market value in the last 7months.



Further analysis revealed a falling pattern in the last 15months as the stock is now trading at 17months low, recording 22.78% loss- an indication of weak shareholders’ loyalty.

 

The fresh and growing sell-off propensity further shows strong unwillingness from both investors and shareholders to hold the stock at current price range- an indication of unattractive fundamentals.

 

 

In addition, the stock broke its lower Bollinger band by 13.7%, after breaking its key support at N140.00kobo- this further indicates strong pessimistic postures of investors.



Furthermore, technical indicators revealed strong and growing sell-off tendency towards the stock while it remained neutral in both short and mid-long term periods as revealed by its price moving averages.



Nevertheless, the price analysis reveals unimpressive performance outlook as the stock posted -10.89%  and -7.34% as its 3months and 6months returns respectively while its 52weeks and YTD performance stood at -18.48% and -12.03% loss respectively.



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

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3.MOBIL Two consecutive rounding bottom patterns have been formed

4.MOBIL Moving from Underperform to Neutral 

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