NSE Consumer Goods stock- Seven-Up Bottling Company has been on ‘sold-off’ to 52 weeks low at N101.10 in recent times before its third quarter result were released and the earnings was below market expectations. The company worsened its negative position to remain in it down trend position and at the same forming a double bottom at N101.10, within a descending triangle chart pattern that equally supports reversal or continuation current trend.

Any break down of the triangle blue line as a result of bearish earnings reaction may lead to another support level at N85.00 which will be a good point to position again by buying into the company for short-term trading.
On balance volume (OBV) it has revealed a strong decline wave that has lasted into the company’s last quarter of 2017 financial year. The possibility of uptrend at this current market level and price is a chance of 50:50. But a strong retracement point at the touch of the yellow is the strong point to buy.
Analyst Opinion.
7-Up has failed three attempts to rebound in 2016 till date, due to its negative earnings position and mixed sentiment towards the stock, despite the company’s tight shareholding structure. Traders should fixed their gaze on the market and the stock trend to position around the N80-N85 range.