₦airaland Forum

damoche07:
Kevinbash,i have noticed your name on the forum for sometime now and for u to even have considered buying spring bank without any assurance of good news saddens me.It shows u have not imbibed the culture and wealth of info on this thread.Consider why somebody will want to sell at a discount for u.Pleaseeeeeeee don't and i doubt if u can even get it because i think its on full suspension.Look for other opportunities and don't even think of going on a long haul with a rickety plane.It might turn into another munich a la Manchester United.

damacheo, the pain is still fresh. may their souls rest in peace. even though i wasnt born then i have watched the videos. Man U 4 life!!

meanwhile, back to springbank, kevyn, how do i say this to u, I personally wouldn't buy it.

@mjay

whats the gist? as in what's the interest rate, the time frame u're looking at, when is the loan due to be paid back?

fellas need this info to better advice u. to be sure, the first 2 i know will do well in the mediul to long and dare i say it, the short term, whatever that is.

don't know much about linkage assurance.

but come o, in the first place which analysis u do before u buy these shares sef, abi na stock broker suggest/stipulate them for u. what % gain are u hoping for, over how long?

@tiwantiwa

if u are going to go by TA only u should be buying right about now if u haven't bought already

1. MACD above exp-9
2.rsi above 50 (and now tending above 70 even)
3. as u can see from ur arrow, price is trending

hope this helps

thought i'd share this for the techies in the house.

A candlestick depicts the battle between Bulls (buyers) and Bears (sellers) over a given period of time. An analogy to this battle can be made between two football teams, which we can also call the Bulls and the Bears. The bottom (intra-session low) of the candlestick represents a touchdown for the Bears and the top (intra-session high) a touchdown for the Bulls. The closer the close is to the high, the closer the Bulls are to a touchdown. The closer the close is to the low, the closer the Bears are to a touchdown. While there are many variations, I have narrowed the field to 6 types of games (or candlesticks):  

1.Long white candlesticks indicate that the Bulls controlled the ball (trading) for most of the game.
2.Long black candlesticks indicate that the Bears controlled the ball (trading) for most of the game.
3.Small candlesticks indicate that neither team could move the ball and prices finished about where they started.
4.A long lower shadow indicates that the Bears controlled the ball for part of the game, but lost control by the end and the Bulls made an impressive comeback.
5.A long upper shadow indicates that the Bulls controlled the ball for part of the game, but lost control by the end and the Bears made an impressive comeback.
6.A long upper and lower shadow indicates that the both the Bears and the Bulls had their moments during the game, but neither could put the other away, resulting in a standoff.

every little helps in our decision making processes.
hope this helps

monday should be an interesting day for oceanic. at end of trading today the candle sticks show the sellers came in late to play but couldnt overpower the buyers hence the slight increase in price. lets see who wins the trading fight on monday.

invisible!:
From what I could see from the insurance stocks today, Wapic has a new resistance price of N13, while both Lasaco and M benefits has a new resistance price of N6.

But this may not matter as our market still has a very important factor at play, sentiments.

Nobody really understands technicals, not after what is fuelling this weeks insurance bull run was only discovered to by pure hype!

Interesting market we have got ourselves here.

wapic- u need one or two more bounces off N13 before u can safely call it a resistance level. ditto for lasaco and Mbenefit

dollyp1cute:
Actually I agree with you to a certain degree there will still be some dips as some folks have not got their certs yet (moi for e.g. and girl is heavy on their IPO imagine if I borrowed money and had to offload)

I am in for the long haul so no shakin

yep me too. i do medium to long haul flights only! so though i walk through the valley of the shadow death, sorry price drop, i shall fear no evil.

@pumping

probably right but as u said, only bigboylarry will know. BUT if any thing, its definitely fuelling up on the tarmac. should ir break resistance of around N27 before mar/april i would be surprised. surely around the N28-N29 at the lowest. i dont see it going down to the lows of N27 before results are relesed and after they are well lets hope its straight to CHAD (wait o, dem dey fight for there ke), ok BORNO the prices will go

by the way, i know its gravestone but i like to remember it as graveyard because it reminds me of death ie a stock that has reached the final bus stop if u get my drift. a man that is down need fear no fall, that kinda thing.

@pumice

sorry for the late reply man.
to answer ur question, i think u can use candlesticks in any market as long as it is a stock market. the main difference the NSE has with other markets is its emerging market status and the nigerian mentality, which if u rally look at it is no different from the average investors mentality.

example, i had been wondering how to calculate when oceanic would bottom out from its free fall and did't know exactly when as i no be winch. but looking at the chart now, i see tht it did what's called a "graveyard doji" (chei, big big word  ).

grave yard doji- Gravestone doji forms when the open, low and close are equal and the high creates a long upper shadow. The resulting candlestick looks like an upside down "T" with a long upper shadow and no lower shadow. Gravestone doji indicates that buyers dominated trading and drove prices higher during the session. However, by the end of the session, sellers resurfaced and pushed prices back to the opening level and the session low. the reversal implications of gravestone doji depend on previous price action and future confirmation. Even though the long upper shadow indicates a failed rally, the intraday high provides evidence of some buying pressure. After a long downtrend, long black candlestick, or at support, focus turns to the evidence of buying pressure and a potential bullish reversal. After a long uptrend, long white candlestick or at resistance, focus turns to the failed rally and a potential bearish reversal.

hope this helps.

@no shaking.

good stuff man. as u'll notice, when that report was written the rsi, ema, macd were trending downwards. look at the charts now, its all change. in a matter of days literally which is why they tried to make their report as non-commital as possible. as u know BIGBOYLARRY no dey work for there. abi, does he?

HE HE HE!

CUTIX trading up by 72kobo. hmmmm, wonder where it will close today

@roughcut, u dey see that thing so, e be like say na u dey captain that ship abi.

@pumping    

thats why i put in for the P.O bros. its not a short term play for me. its still lower in price compared to the other guys in the sector so regardless of how many shares i am alloted i wont miss out in the long term.

please note i bought the P.O last year. if it were to come out now, my immunity against P.Os no go gree me buy am      

no_shaking:
Fidelity Bank - Half Yr Result Out

FIDELITY BANK PLC
HALF YEAR ENDED DECEMBER 31, 2007

                                                   2007      2006
TURNOVER                              N16.025b  N10.363b
PROFIT BEFORE TAXATION     N7.184b   N2.377b
TAXATION                             (N1.436b) (N475.146m)
PROFIT AFTER TAXATION       N5.747b   N1.901b

On target to reach FY PAT of N11b. Nice result _{pre allotment}! Post allotment, me i no know o

post allotment, more mouths to feed. down goes the eps and up goes the PE. u can't put a value on market sentiment though, so lets see if there's any sentimentality left for fidelity in the market.

wanaj0:
Universal Insurance will be listed on the 11th of February (Monday). The PP was done @ 95k



That's a major issue. Read a technical analysis that talk about Oceanic going down. See what is happening now.

Right now, I see UBA and Zenith plus Diamond as stocks to take a look at especially for the LONG term.

@wanajo,
, i know the report u are referring to, its the one on proshares website. if u read it again u'll see they have tried to protect them selves by trying to talk from both sides of their mouth. they never pinned themselves down yeye people. but i guess they are right in the sense that tech analysis though a science, is becoming more of an art nowadays and people can look at the same charts and see completely different things based on their personality and investment goals. as u know i am a long term player but i just love the chase that tech analysis provides and still use it to make long term decisions on fundamentally sound companies. my money scarce gaan ni

by the way oceanic is still trading upward as we speak but lets see how it closes shall we

pumping777:
What goes up must come down

Seriously you can't determine a trend from one days trading except you can see some other supporting indicators like volumes for instance. Morever, you can't really tell how the stock will close.

Generally, the insurance stock prices are bloated so expect bleeding from time to time. Profit takers will be striking especially since there is the smell of TS in the air all around the insurance sector.

quite correct. trens need at least 3 days to form and usually longer really. take oceanic for example, it looks like a trend is forming but confirmation will only come with time, ie hind sight, by which time all the money is already made for those in already. i still expect it to continue to do well with little blips here and there.

pumping777:
Good analysis and I love that Japanese name that I still can't pronounce 

I just wanted to comment that both "brothers" can be good or bad, depending on if you are a buyer or a seller. Of course I understand that with a green bar for instance, it should mean that the price will continue to rise. We should then expect to start seeing different opening and closing prices as the momentum slows until there is  a turn around.

However, we can use the halt in movement of Platinum, Zenith and even First Bank in recent weeks to infer that sometimes on the NSE, even though a stock opened and closed high today, it could still end up losing tomorrow. Strange but true.  I call it sudden "You"-Turn Marubozu style

point noted pumping777. thanks. i had hoped it would have been self explanatory in my post but thanks a lot for pointing it out.

keep ur head up. sure u'll come out with a lot more dosh to invest after its all said and done

@upward

my brother, i feel u jare. me sef na in between patients i take write that one. e no easy. wifey don dey complain sef say na so-so stock i just dey yarn nowadays no too focus on anything else. omo na beg i begin beg o .

it can be time consuming but worth it. at least if anything i can follow the gist on nairaland abi

Gudchoice:
After the Doji pattern on the candlesticks yesterday, it was 50-50 which way oceanic would go but now it has gone positive. RSI Above 50 line and MACD over its reference line (EXP-9).

@ TopGun - How can you tell from the charts that there were no buyers, but only sellers? I am yet to understand the exponential readings from charts, similar to what you posted above. What do these figures tell you?

@gudchoice, what i mean is that buyers controlled the price from first trade to the last trade. U see, the kind of candlestick cutix showed yesterday is called a MARUBOZU (japanese name), no mind thename jare.

what it means is that the high for the day was the closing price and the low for the day was the opening price ie high price=closing price and low price=opening price for the day's trades. On nigerian securities.com, they use the color green to denote days that the opening price is lower than the closing price and red for the days the closing price is less than the opening price. if the colour of the candlestick hab been red and the opening price equals the highest price for the day while the closing price was the lowest for the day, then that would have meant the sellers were in control of the trades from the first trade to the last trade.

so in summary Marubozu can be of 2 types, called brothers.
brother 1 is green (using nigeriansecurities.com color code) which is good and means the buyers are in control
brother 2 is red which is not so good and means sellers are in control

hope this is helpful for the techies on here. am learning more everyday. mixing it up with all the other little gems of info i've learned on this extermely beneficial forum. probably the best investment decision i made in 2007 u know, to join this forum.

i holla

for the short term transexpress fellas (pumping obviously not in this category from his earlier post), downtrends alert for y'all! abandon ship

there were no sellers for cutix today according to the candlesticks, none at all, only buyers

@wanajo

nice to know i am on the same air elephant with the great one.

i holla

@upward

will show u my pilots licence but if the plane isnt on autopilot by tomorrow i will have had a bad teacher be that!
only kidding, but really i am quite sure oceanic will do well as usual in the medium to long term as u know i am not really keen on fly-by-night shares (even though i struck at night  ). I followed my nose ie (analysis) on this one and its a big boeing 22B share jet so it may take a while still for all the air hostesses to serve everyone on the plane.
be patient dear friend, be patient

@yodi

that na the madid stopover. see u in spain then, will have ur seat ready and waiting.

After the Doji pattern on the candlesticks yesterday, it was 50-50 which way oceanic would go but now it has gone positive. RSI Above 50 line and MACD over its reference line (EXP-9).
in my bid to hijack the plane, i couldnt be sure of the oil level sha but the guage dey show 3/4 full.
roughcut abeg u fit go down to the hold to confim the fuel level? in my experience we may have to make the scheduled stop in madrid but i wan avoid that this time if i fit.

last call for yodiyokun for oceanic flight 101recover to bangkok, last call for yodiyokun for oceanic flight 101recover to bangkok. plane tqaxing off on runway now. no luggage over 100k to be accepted.    

@fof2

correction sir, no be me u dey talk. i no too involve myself in the discussion on bottoming out for oceanic, i held my peace and "hid in the bush" as u say, i struck at the dead of night, killed the pilot and flight crew and hijacked the plane.
not to worry, i get some flight experience and i wont crash

I NO GO CLOSE DOOR FOR OCEANIC JUST YET.
IT IS JUST TAXING OFF FOR TAKE OFF SO IF U GET FAST CAR U FIT STILL CATCH THE PLANE. WE WILL ALSO BE STOPPING FOR EXECUTIVE GUESTS IN MADRID AND PHUKET. (yodi that na u be that o! )

anyone on the oceanic flight to bangkok yet. last call for oceanic flight 101recover to bangkok, plane now boarding at gate NSE

is there a public holiday in naija today that i don't know about?

where are the NSE daily results, anyone got anything?

@ crazyT

omo, even the charts are trending up for transcorp u know. what gives?

as far as i know, transcorp was dead awaiting official burial, guess me was wrong, fellas getting in on the old system of buying out of favor companies i guess. its working it seems