NPFMCRFBK records+20.51% in 1wk, hits 9-mth high on strong bargain

Proshare

Monday, April 07, 2014 5:14 PM / Research

  

Today, NPFMCRFBK recorded moderate gain of +4.3%, setting to record higher high above N0.97kobo while extending the 9-day gaining streak as bargain sentiments towards the stock appeared very strong.



In the recent sessions, the stock had maintained a strong uptrend, recording new high day-by-day to hit 10-month high as both the investors and shareholders displayed strong bargain sentiments towards the stock - an indication of strong shareholders’ loyalty.

 

The stock had recorded +32.39% of price appreciation in the last 4 weeks, following a price correction of 9 weeks experienced after hitting its year high of N0.89kobo on January 6th 2014.



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

 

However, we are not in any doubt of price correction anytime soon as the stock maintained a extreme overbought posture, trading at its peak as price RSI had suggested.



In addition, price analysis revealed an impressive performance trend as the stock posted +14.12% and +18.29% gain as its 3months and 6 months returns respectively while its 52weeks and YTD performance respectively stood at +7.78% and +21.25% gain.

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