₦airaland Forum

I expect Brent to hit higher than $34 on its next rise; currently on reversal. If it doesn't, then it would make a lower low; but I think it would!

I only focus on summary, balance sheet and cash flow statement; i no be accountant or finance guru!

ebuka1997:
Unaudited results only 80 pages nawa for GTB was oh how would someone read this one now

What our index needs now is the kinda strong reversal Brent Oil is currently making!

More like it!

PharmAlfred:
I think is still bearish. Today looks like a fake out. If most prices close at yesterday's close or lower, then tomorrow and may be Friday will end on a bearish note.

You would have to wait till tomorrow to confirm a reversal on banking stocks, as the current move is very weak.

I do not display my analysis unnecessarily. You could check investing.com to see same charts, hosted by tradingview; use the Fibonacci, stochastic and a bit of history matching. "I expect" does not mean i know for sure. Its like a weather forecast, but this time by 1 person - Me!

Sabiboy99:
where are your charts, strategies and indicators. please let's post facts here not assumptions... money is involved here.. thank u

Without discontinued operations from UPDC, a profit of N5.3B+ post tax would have been made.

Biafran4life:
Pls does it mean if this companies classified as discontinued operation didn't exist or remove.Uacn would have made about 19,9 billion naira profit instead of 9.3 billion lost

I am optimistic that as much as this affects the world, not just Nigeria, a lasting solution would be put in place. Hopefully, our government would figure out how to deal with this without squeezing its people any further.

RabbiDoracle:
Brent has broken down.

The government will need to learn the hard way.

They have been paying lip service to diversification.

There should be another devaluation in my opinion . Maybe to N500.

I expect to see a reversal in Banking Stocks today or Friday, but the overall index should still be in downward trend.

Mcy56:
Reversal may be in view today.
Too early for this assumption? We wait and see.....

After having a read of Nairametrics analysis @UACN, I better understood the figures on the UACN result and why OGG think its a BUY.

Nairametrics recommends a BUY for UACN with a TP of N17.0; have a read below:

https://nairametrics.com/2020/04/21/quick-take-loss-from-discontinued-operations-drives-uacns-net-loss-in-fy-2019/

If Zenith moves lower tomorrow, past N12.2, then we might just be headed back to where we started from. Bargain hunters, take note!

However, with recovery witnessed in FBNH and some other banking stocks, I hope this is not the case!

WTI (US Oil) back to $15.58

lol. They are taking it back to where it started from @ N9. I hereby encourage them to kontinu!

Mcy56:
Those wapco guys have got no chill at all.
Las las bargain hunters go feed off their dumping and they'll come back to buy higher. Lol.

WAPCO

FBNH rebounding...

Mcy56:
Yes. You qualified already. You can sell.....but why not wait small if you bought it higher? Except you needed some fund anyway.

Yes oh, pick while it lasts oh, I had predicted a reversal this week. Me, I am waiting for one particular stock.....patiently!

Mcy56:
I told Bomboclad yesterday that we will buy at 4 or below.
Where is that Sister I told to wait for Fbnh at bargain? Start picking small small.
Me I don pick small at 4.05, make we see how it will go.

Relax, brent is in revesal. when things fall quickly and without notice, you wait! Fundamentals are good so no cause for alarm.

Princkez:
haaaaa...my FBNH oooo

Stop Loss and wait for reversal, or wait and pray for reversal....your choice!

ositadima1:
Nawao, not only that my profit have been wiped out i am now at -0.79%, Guaranty what did i do nou.

CC Mcy56

Ibe Kachikwu is a lawyer, so I can understand why he would make a mistake quoting $23 instead of $12 - $16 for oil majors in Nigeria.

stcool:
https://www.google.com/amp/s/oilprice.com/Energy/Crude-Oil/Nigeria-Boasts-Oil-Production-Cost-of-23-Per-Barrel.amp.html

$23 average as at 2019...so what are you saying. Do we have current official figures for 2020?

I don't know how they got $23, but i have worked for 4 oil majors and cost per barrel is less than that.
https://guardian.ng/business-services/nnpc-to-reduce-cost-of-crude-oil-production-from-17/

stcool:
https://www.google.com/amp/s/oilprice.com/Energy/Crude-Oil/Nigeria-Boasts-Oil-Production-Cost-of-23-Per-Barrel.amp.html

$23 average as at 2019...so what are you saying. Do we have current official figures for 2020?

Passengers....

Bomboclad:
After the markdown, FBNH would reverse @ N4.2 ...passengers take note!

There is a divergence in the chart. If prices move back upwards before Friday, that would be a good sign. Else.....

thebargainhunte:
Brent below $20

The ASI has resumed its downward drive, following after the retracement in Banking Stocks like i announced last week. There is a possibility of rebound by Friday but with the move in oil prices, we cannot be certain. Let us be careful not to lose money, this is not the best time for same.

It actually cost between $12 and $16 in Nigeria to produce one barrel of oil, depending on location (land/shallow offshore) and company (indigenous/major).

stcool:
Exactly...but the guy wants me to paint a slight picture.

You are selling @$12 with no single buyer and its cost you about $30 to produce same barrel

Tell me where you are heading...recession is an understatement unless the unexpected happens!

Worst is our leaders don't even know warris happening... The governors are waiting for month end to rush to Abuja to share money. Until dey will hear no money one day!

Its currently $0.01... i yam not understanding!

RabbiDoracle:
Trump don break record.

http://www.nse.com.ng/Financial_NewsDocs/29707_FBN_HOLDINGS_PLC_FINANCIAL_STATEMENTS_APRIL_2020.pdf

63% increase in PAT from 2019 to 2020. I am impressed!

You are right bro

seyisanya:
I think there was no change of price simply because no 100,000 block purchase was made because investors avoided it like the plague. We're watching, anything can happen.

Way to go bro!

Valueinvestor:
I just like to avoid stocks with too much noise.
One can always come for it, when the noise has died down or when no one really cares about it again

Ok Ma!

Mcy56:
There's nothing special about it. You seems not to understand my point here.
There was no block sale of 100k units, hence the price didn't change; that was what I implied.
Even if there's something special, the usual dumping will still occur in response to the poor dividend payout.

I watched UACN when i saw all the comments. After trading over 400k+ shares @ N6.75, it didn't move. Tells me there is something special about it. Lets keep watching!

Mcy56:
Bargain hunters will wait at 4 or sub 4.

Funny enough, UACN did not change in price. The way people ran from it even helps a little.

Nice one!

nna777:
This second dip was expected. Once GTB and Zenith dips, others will follow. This week will determine consolidation before breakout.