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Top Penny Stocks On Our Watch List for 2017

Proshare

Monday, January 09, 2017 3.20 pm / TheAnalyst 

Penny stocks are technically classified as shares of quoted companies trading within the price range of N0.50kobo and N5.00kobo. And Data analysis has just revealed strong indication that investors may shift patronage towards penny stocks in the year 2017. As a result of risky nature of penny stocks, we would like to encourage investors to remain value-driven and lean towards value penny stocks only- i.e. penny stocks with good history, performing records and liquid with long term outlook

A cursory review of trading pattern in the just concluded week revealed that investors started the year on cautious note while they maintained value-driven approach in the week. Just as noted above, there is strong indication that the current year 2017 would be a year of penny stocks as analysis had indicated.

Also, sentiments analysis has shown that investors were more speculative in the week as market experienced active sell-down to depress the All Share Index by -2.32%. This indicates strong presence of short-term traders, taking profit on the back of 6.47% rally experienced in December 2016.

Furthermore, data analysis revealed that investors who seek out for timely capital appreciation have considered penny stocks on a larger scale when compared with 2016 comparable period.

It was observed that Penny stocks dominated the performance table by 63% as against 59% recorded in year 2016 comparable period while market volume turnover recorded in the week was dominated by same category of stocks by 68% as against 4% recorded in previous year comparable period- this further confirms a shift in patronage towards penny stocks, which also indicates growing cautious mood towards high-priced stocks.

Nevertheless, as a result of risky nature of penny stocks, we would like to encourage investors to remain value-driven and lean towards value penny stocks only- i.e. penny stocks with good history, performing records and liquid with long term outlook. As a guide, the tables below would put this in proper perspective.

Penny Stocks On Hunters' Radar in the Week 



Penny Stocks on Our Caution List 



Penny Stocks on Our Watch List 



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