OANDO champions market recovery, gains +28.28% in 3days


Wednesday, November 12, 2014 5:14 PM / Research


Today, OANDO sustained an active bargain trend to extend the 2-day gaining streak with a continued gap-up pattern- an indication of growing enthusiastic trading pattern from both investors and shareholders.

So far in the week, the stock had recorded active gain of+28.28%, just within the 3days recovery experienced in the week. The stock is currently eyeing N25.00kobo, which has its key short-term resistance level. We expect the stock to reclaim its support level at N25.00kobo.

Market outlook in the recent sessions suggested a strong reversal trend as both investors and shareholders displayed growing bargain optimism towards the stock- an indication of renewed loyalty towards the stock

In addition, technical indicators revealed a sustained bargain tendency towards the stock as suggested by a continued gap-up trading pattern witnessed today. Also, the stock closed neutral in short term but remained bearish in mid-long term periods, buttressing the growing bargain postures noted above.

Furthermore, price analysis revealed mixed performance outlook as the stock posted -20.67% and +35.50% as its 3months and 6months returns respectively while its 52weeks and YTD performance stood at +99.63% and -10.60% gains respectively.

Conclusively, sub-sector/peer analysis further revealed the stock to be leading the performing stocks in the last one year, which further suggests that the sentiments within the sub-sector remained positive towards OANDO

Related News:
AITEO Group denies interest bid for Oando s downstream assets

2. Oando leads Oil Gas sector in reversal mission tops market performers

3. OANDO releases Q4 13 Q1 Q2 14 results declares Interim and Final Dividends SP N23.70k

Related News