₦airaland Forum

Watching post forex ban
-FCMB on full bid #fav
-Fidelity will soon join d full bid

davide470:
Is the PRESCO ride a bubble?

All pointers indicate SELL, but...

Fxuser, abeg your analysis is needed here

-the shares are not liquid
-very thin volumes for most of the year
-RSI indicating oversold
-a very big inverted hammer yesterday (indicating a lot of cashing out)
-macd is still showing +ve sentiment , well above d zero line


no opinion on d matter

fxuser:
CBN known for back and forth !

Same he did with the IMTO's ! ! The CBN-Gov keeps adding uncertainty, panic attacks to a bad situation !

Godisfaithful:
BreakingNews: @cenbank lifts ban on banks sanctioned for fx sharp practices @BizMorning @channelstv

CBN known for back and forth !

-volumes this past week suggest accumulation rather than sell off
-bye bye August
- sigh

Intendy:
stocks with new 52 weeks low

UAC PROPERTY #3.5k

fidelity #0.89k

sterling #0.93k

stocks with new 52 weeks high

presco #45.30k

GTB #26.50k

GTB in a zone all by itself

NuttyChoky:
I hope UCAP can crash more.... maybe I can catch more falling knives

FMCB is one proper one ! SP likely to break N1.00 again sadly

- MACD bearish
- RSI strongly oversodl

SP N1.01
Day range 1.04 to 1.01 (bears still in control for now)

cheap can become cheaper & also for much longer than anticipated.
tolerance, liquidity and patience will be tested

#chasingKnives lol

[quote author=angelo82 post=48947929]Bad economic data.

Dear Client,

The Nigeria Bureau of Statistics (NBS) just released a set of macro economic data for Nigeria.

Please find below a summary of the statistics as released by the NBS today:

Macroeconomic Variable Q2 2016 Q2 2015 % change
Capital Importation $647.1 million $2,666.4 million -75.73%
Foreign Portfolio Investment $245.3 million $2,183.2 million -88.80%
Foreign Direct Investment $133.0 million $211.1 million -37.00%
GDP -2.06% 2.35% nm
Unemployment 13.3% 8.2% 5%
July June %
CPI 17.1% 16.5% 0.6%


Emefiele and Kemi are below par for such a time like this !
Bears do not joke with this type of official news
#brace

Economic data confirming slow down
Inflation 17.1%

month end

UBA
4.35
bid 2.9m
offer 10.9m

after declaring dividend & cbn lift from fx ban !
Na Wa

umm

locodemy:
brother fxuser.........na good news be that naw.......i hope cutlass dey your hand..........for me i no dey play small pikin game......my eyes no dey there....

um
liquidity lo sho jo ro

been attracted to FCMB, just had to join d bid train
make emefiele do anyhow , his end is near

fxuser:
umm

Fidelity
SP 0.96

Bid 500k
Offer 14.9m

fx ban is still in d driving seat

Fidelity
SP 0.93
Bid nil
Offer 19.3m (pere)

#MopTheFear

angelo82:
So because of Emefeile we couldn't enjoy the dividend rally?,May he not enjoy that office.

market has zero confidence in him ! says dis today , says that tomorrow .
all his decisions are based on d weather & bhari's body language

umm

Fidelity
SP 0.96

Bid 500k
Offer 14.9m

fx ban is still in d driving seat

angelo82:
So much good news today that suppose to propel the bull.I read about the 14Billion USD investment approved for Nigeria for various investments in different sectors.Who is holding down the bull this long?

Emefiele

veecovee:
who knows the outcome of the banks and CBN meeting?

Nothing yet !

FBN bounces back above N3 very early . .

Nigeria FX market trades $327 mln as offshore funds buy bonds
http://af.reuters.com/article/nigeriaNews/idAFL8N1BA23I

- a lil' jump in volume
-

interesting
bank license is now more expensive than some banks
Mkt Cap Penny stocks
Skye N8.18 bln
FCMB N20.79 bln
Diamond N24.78 bln
Fidelity N28.1 bln
Sterling bank N28.79 bln

All under N100bn together

while
GTB N763 bln

#quality prevails

#justObserving

Tritri:
FBNH i bought at 3:60 few month back.Now it at 2:99...Am Finished.just wondering if i took the wrong decision . I've started been harsh to my wife for nothing sake...my wife been asking me honey what the problem , and i dont knw what to say, Though i bought it for long term and it involves millions .

@Anyone in same position ? How do we console ourselves ?

3 choices

-patience
-avg down
-cut losses

none of d above is easy. However
-RSI is oversold signalling BUY
-MACD about to cross signal line wh is a buy signal
-MACD is still below zero line wh is bearish

If ur not liquid, just hold.
Don't stress

Intendy:
this sort of market makes people sell the goose that lays the golden egg and buy partridge.
one has to be very careful.

well said . . .

We are all waiting for the outcome of Emefiele & d bank CEO's meeting

Mfunkynation:
biko, Zenith n ucap price? Thanks

15.30
2.29

seems its back !

Exchange is still down
CBN is also meeting with bank CEO's today

another observation


-NGE ETF cash position has been growing in the last week.
-shares held has been on d increase across portfolio
-I chk from time to time. Esp when mkt is somewhat bearish but volumes are growing and above average for some coy (d MIB way)


FYI chk:
http://www.globalxfunds.com/funds/nge/

FBN Eurobond yields have dropped from 22% (junk status/high risk) to 16%
#rebound

FYI
By their yield you shall know . .
GTB 2017 +5.99%
Access 2017 +6.94%
Zenith 2019 +7.73%
Access 2021 +14.2%
FBN 2020 +16.21% (used to be ard 22%)
Fidelity 2018 +20.62%
Diamond 2019 +22.49%


- fidelity & diamond have taken over from FBN in terms of risk perception
- both banks under bearish pressure / sell off
- FBN rebounded in d past weeks gaining over +6%
- eurobond is a good hedge against naira but min required is $200k FV , most pay interest half yearly

for further info on closing rates
chk: http://www.fmdqotc.com/wp-content/uploads/2016/08/FMDQ-DQL_-Aug-26-20161.pdf


#justObserving

FCMB cant find support . .
#oversold

debeey87:
What are the signs telling wise one

I'm a full learner oh.
its a hold for me.