RabbiDoracle:


Once decapitation has occurred, prices will need to move off from the low to settle at a higher stable point(s). And that is what is going on worldwide.

I will use Exxon Mobil chart as example. Afterwards, I will post other charts which show similar pattern.

I'm using ExxonMobil because it is in the sector that is most ravaged by this crisis. Yet it is lifting over the kumo to stabilize first.

From the chart below, 2 things can happen:

(1) A violent breakout into the kumo to emerge above that daily cloud. See the single arrow.
Like the 10 10% rise. for NSE.

(2) A gentle move horizontally, then breakout to stay above the kumo.

Similar thing should play out on the other charts I will post.

You are using Ichimoku with default setting (52 periods and its mid-point 26) on daily tf?

That setting is to be correctly used on the weekly time frame.

It is no co-incidence that we have 52 weeks in a year. Abi wetin you think?

@rabbidoracle, nor allow me forcefully enlist you to take my course on technical analysis o! Stop falling my hand openly like this.

meshpips:


You are using Ichimoku with default setting (52 periods and its mid-point 26) on daily tf?

That setting is to be correctly used on the weekly time frame.

It is no co-incidence that we have 52 weeks in a year. Abi wetin you think?

@rabbidoracle, nor allow me forcefully enlist you to take my course on technical analysis o! Stop falling my hand openly like this.

I know what you are viewing. You are expecting a double bottom on the weekly. But I am not seeing it.

Meanwhile, I am looking at BTC. It has scaled my 7,200 price limit after which it will head to 10K. I am still waiting for it to smash that your limit of 7,638. A very strong support of 7K has been established.

RabbiDoracle:


I know what you are viewing. You are expecting a double bottom on the weekly. But I am not seeing it.

Meanwhile, I am looking at BTC. It has scaled my 7,200 price limit after which it will head to 10K. I am still waiting for it to smash that your limit of 7,638. A very strong support of 7K has been established.

Okay sir. Let's allow the market do its thing.

Enjoy the ride!

When the elders are speaking, the learners pay rapt attention...

#QuicklyPicksUpPenAndPaper...

Oya continue...

Investors Lose N161bn Amid Attractive Bargains in Banking Stocks
https://businesspost.ng/economy/investors-lose-n161bn-amid-attractive-bargains-in-banking-stocks/

CBN OMO Sale Booms Again, Traders Offer N324bn for N100bn Bills
https://businesspost.ng/economy/cbn-omo-sale-booms-again-traders-offer-n324bn-for-n100bn-bills/

Dollar Shortage Devalues Naira to N430/$1 at Black Market
https://businesspost.ng/economy/dollar-shortage-devalues-naira-to-n430-1-at-black-market/

NASD Exchange Index Remains at 700.73 Points
https://businesspost.ng/economy/nasd-exchange-index-remains-at-700-73-points/

Crude Oil Prices Sustain Recovery as Iran Threatens US
https://businesspost.ng/economy/crude-oil-prices-sustain-recovery-as-iran-threatens-us/

Good TA input from RabidDoracle and Meshpips. Looking at TA, 2 people can be using same chart and seeing 2 or more different things.

Overall, I think market will decide it's direction.
From my end, I see prices have reached a new support level and would range or break out a bit. With the earning season here, I think we should expect some uptrend and consolidation.

Opening up the economy and oil price recovering will help in the short term. If Covid-19 plateaus and decline in most countries, that should bring a new wave of optimism into the market.

Overall, market may not reach new lows going forward.

In this year 2020, Zenith currently has about 839 million units as net sell quantity.

When supply exceeds demand, price goes down.

Now, when you re-adjust the price by comparing this net volume with the total volume traded in 2020, you will obtain 16.59.

This is the support of Volume Adjusted Price.

The price could go slightly higher to the 16.35 level which I mentioned earlier this week but with the current realities for this week (no new high), this is not so probable.

Even in the event of the commencement of a bullish move, the support at 11.90 needs to be contested and hold without putting in a new low for this year before we can say that the bulls have taken over.

So, 11.90 is the first support level while 9.44 is the next. These are the two price levels at which erudite buyers will be waiting.

http://www.nse.com.ng/Financial_NewsDocs/29750_ECOBANK_TRANSNATIONAL_INCORPORATED_FINANCIAL_STATEMENTS_APRIL_2020.pdf

ETI don land.

onegentleguy:


On the part in bold; because then, he can assume he is buying into brewery coys INDIRECTLY and not DIRECTLY !!
...don't mind pastor VCV.
He seems to forget that most business sectors usually have an interchange of play in one way or the other.

It is well.

i c

[quote author=onegentleguy post=88779354]

Webinar by IMF, this morning.
Key takeaways are as follows:


https://www.thequint.com/news/webqoof/whatsapp-message-on-former-rbi-governor-raghuram-rajan-imf-webinar-on-covid-19-is-fake

Thank you OGG for the selfless knowledge you continue to share with us.

However just to keep information here accurate, the supposed IMF Webinar has been debunked (See link above).
Also in the viral post (Again see link) references made were to countries like India and Indonesia not Africa.

Thank you again for your selfless work. I appreciate you.

onegentleguy:


I get ur point.
But the truth is; there is no way a strain in globalization will not affect them.
...China is the industrial and production hub of the world.

Again, there is reason why the Gov't/leaders will want to focus more from within to grow their economies.
The concerns around covid-19 means that there'll be serious disruptions in global supply chain, so job markets accross the globe will come under a lot of pressure.
As a result, most countries will want to protect their own by creating the needed environment and allowing for more produce back home(backward integration/import substitution). ...that way, they can cushion job loses.
Japan, Germany and the US have already started out with these measures.

This goes beyond wanting to just pick a quarrel or even a fight with China.

That country will likely not remain the same post covid-19. ...especially in the short to mid-term.

Regards

Or they might look at other countries beyond China. Other south-Asian countries if I were them I’ll equip myself to benefit from this because they have the expertise

Both of you are right....

I literally mean it though. I would provide an explanation at a later date, for now, lets swing with the market.

meshpips:


Okay sir. Let's allow the market do its thing.

Enjoy the ride!

UACN: Bids showed up, may end up not falling below 6/6.20........
Cautious trading in market, though overall looking up............we see how it goes.....

house please, when is the markdown for fbn?

meshpips:


You are using Ichimoku with default setting (52 periods and its mid-point 26) on daily tf?

That setting is to be correctly used on the weekly time frame.

It is no co-incidence that we have 52 weeks in a year. Abi wetin you think?

@rabbidoracle, nor allow me forcefully enlist you to take my course on technical analysis o! Stop falling my hand openly like this.

How do I enrol for your class on TA?

PharmAlfred:
Good TA input from RabidDoracle and Meshpips. Looking at TA, 2 people can be using same chart and seeing 2 or more different things.

Overall, I think market will decide it's direction.
From my end, I see prices have reached a new support level and would range or break out a bit. With the earning season here, I think we should expect some uptrend and consolidation.

Opening up the economy and oil price recovering will help in the short term. If Covid-19 plateaus and decline in most countries, that should bring a new wave of optimism into the market.

Overall, market may not reach new lows going forward.

You've just translated the charts to English. Thanks.

billtommy:
house please, when is the markdown for fbn?

Firstbank already markdown few day back.from 4 .7 to 4 .30 I think!!

author=creategist post=88795231]

That's NOT true.
Ur source may dispute the source of the write-up, but NOT the genuineness of the content.
The content as put out, is clearly not in doubt !!

Is it the part about Africa managing the curve a bit more and having a brighter chance of flattening it ahead of most countries in the western world?
...the WHO president confirmed this.
Our weather and body mechanism gives us an edge.
2 days ago, Ghana reopened its economy, recording just 9 deaths and 99% recovery rate !!

Is it about the part on " Discretionary Spending"
My dear even u will prioritize health and take it a bit more seriously after now(if u weren't doing that before)

Is it about the part of "Result of backlash against China"
My dear Japan, Germany, Sweden and the US already began that... Google is ur friend.
As I said, this will result to a possible strain on Globalization.

Is about...
I could go and on and on.
Again, take ur time to read thru that report again.

Perhaps the source of the report may not have come from the IMF(if that's ur assertion, then I agree)
But that does NOT take away from stating that all the input therein are FACTS !!
...u do not need a soothsayer to tell u that virtually everything that was written therein is TRUE !!

Between, some of the content of the write-up was also highlighted in my next article, titled; "A life after covid-19" which I started 2 days.
Hopefully, I'll have the time round it off.

Regards

Conductor, abeg who are we waiting for, this bus needs to move soon or I go come down oh!

Driver, abeg talk to your conductor!

I just saw something very interesting. I believe the ASI would reverse sooner than I thought and pleasantly; stay tuned!

PharmAlfred:
http://www.nse.com.ng/Financial_NewsDocs/29750_ECOBANK_TRANSNATIONAL_INCORPORATED_FINANCIAL_STATEMENTS_APRIL_2020.pdf

ETI don land.

Someone should help summarized this for us

Bomboclad:
Conductor, abeg who are we waiting for, this bus needs to move soon or I go come down oh!

Driver, abeg talk to your conductor!

You echo my thoughts.
The volumes required to drive the market either to Golgotha or Zion is lacking.
However, we keep vigil to spot the bargains when they show up.

Bomboclad:
Conductor, abeg who are we waiting for, this bus needs to move soon or I go come down oh!
Driver, abeg talk to your conductor!

Is it fbnh? Whether na train wey no gree full since.

Ibrahim505:

Someone should help summarized this for us

U can help us do that too.
...after all, the report is also written in English.

8 words in summary:
Fundamentals intact.
Asset underpriced.
Great margin of safety.

BUY !!

CAVEAT: Due diligence still applies.

onegentleguy:


That's NOT true.
Ur source may dispute the source of the write-up, but NOT the genuineness of the content.
The content as put out, is clearly not in doubt !!

Is it the part about Africa managing the curve a bit more and having a brighter chance of flattening it ahead of most countries in the western world?
...the WHO president confirmed this.
Our weather and body mechanism gives us an edge.
2 days ago, Ghana reopened its economy, recording just 9 deaths and 99% recovery rate !!

Is it about the part on " Discretionary Spending"
My dear even u will prioritize health and take it a bit more seriously after now(if u weren't doing that before)

Is it about the part of "Result of backlash against China"
My dear Japan, Germany, Sweden and the US already began that... Google is ur friend.
As I said, this will result to a possible strain on Globalization.

Is about...
I could go and on and on.
Again, take ur time to read thru that report again.

Perhaps the source of the report may not have come from the IMF(if that's ur assertion, then I agree)
But that does NOT take away from stating that all the input therein are FACTS !!
...u do not need a soothsayer to tell u that virtually everything that was written therein is TRUE !!

Regards

We should be careful not to take assumptions and insinuations as facts.
Some of the things mentioned in the report are assumptions and not facts..
For instance, there is no empirical evidence to show that our body mechanism and weather give us an edge in Africa,they are all assumptions.
What we know is that the virus arrived late in Africa and it will be too early to make any conclusion until we see the end of the pandemic. God help us.

Mcy56:

Is it fbnh? Whether na train wey no gree full since.

It is still loading passengers. Accumulation on-going. Should take off next week all things being equal.

Driver just told me its traffic jam, the bus is basically full, though some agberos are in front threatening to remove our spare tyre.

PharmAlfred:


It is still loading passengers. Accumulation on-going. Should take off next week all things being equal.

pluto09:




We should be careful not to take assumptions and insinuations as facts.
Some of the things mentioned in the report are assumptions and not facts..
For instance, there is no empirical evidence to show that our body mechanism and weather give us an edge in Africa,they are all assumptions.
What we know is that the virus arrived late in Africa and it will be too early to make any conclusion until we see the end of the pandemic. God help us.

Very true Sir

We are waiting and hopefully the flattening of this pandemic curve will come early in Africa.

I want the pandemic Africa to disappear with other continents so that Africa will not be a testing ground for all Covid 19 researches going forward.

May God help us all.

Amen

onegentleguy:


On UNILEVER, note that while fundamentals does not favour it at the moment, TECHNICALS does.

TA appears to signal a BUY for a short term reward on the stock. ...which was why I said that the price might still rise from here despite poor fundamentals.
In retrospect, a </= N11 entry peg might deliver a 20-45% range in ROI.
So if ur in for the short term, u had better put on ur TA guard. ...otherwise, stay on the side line.
However, long term investors can consider buying in bits as price drops to their confort zone.

Selah

Don show for 10.40

Please

Oga RabbiDoracle and Oga Messhipps,

How van I role in your CHART TUTORIAL COLLEGE.

I really need to understand more chart reading and interpretations. .....na only small I understand for now.


Thanks

Bomboclad:
Driver just told me its traffic jam, the bus is basically full, though some agberos are in front threatening to remove our spare tyre.

Those spare tyre removing conductors are the worst kind of conductors

Sir OGG,
But PAT,EPS decrease.i am confused

onegentleguy:


U can help us do that too.
...after all, the report is also written in English.

8 words in summary:
Fundamentals intact.
Asset underpriced.
Great margin of safety.

BUY !!

CAVEAT: Due diligence still applies.