Company Overview
The Initiates Plc is a Nigerian environmental services company specializing in hazardous waste management, industrial cleaning, decontamination, wastewater treatment, e-waste recycling, and environmental remediation services. Headquartered in Port Harcourt, Rivers State, it was incorporated in 1995, and its shares listed on the Nigerian Exchange (NGX) under the ticker TIP.
Current price: N31.00
Rating: Buy
Price projection: N49 (+58.06%) or N62 (+100%)
Technical Analysis
In this report, we shall use the following tools and analysis methods:
Elliott’s wave theory to understand the overall market sentiment
Fibonacci tools to determine support and resistance levels
The Relative Strength Index and volume to evaluate the market’s strength
The Money Flow Index to determine the market liquidity
Moving average and MACD to understand the nature of the trend
Top-down analysis to know the best investment position
Elliott wave analysis
Weekly chart analysis: Market overview
On the weekly chart, the market is still in its early corrective phase. Plotting the Fibonacci retracement from the beginning of wave 3 and wave 4, the price is expected to retrace at 0.5 of the Fibonacci sequence. Thus, a long-term investment position lies between N23 and N26
Daily chart analysis: Investment opportunity
On the daily chart, TIP completed wave A and B corrections, containing three waves each. Combining the descending triangle and Fibonacci retracement, the stock embarks on a 5-wave correction, completing the ABC flat pattern. Thus, investment opportunities lies between N24 and N28 with a price projection of N49 (+58.06%) or N62 (+100%)
Indicator analysis
Weekly chart analysis: Market overview
This week opened with a weak bearish sentiment after a strong bullish momentum, depicting profit-taking and sustained investor interest in the stock. Although MACD’s bullish momentum signals divergence, market liquidity and momentum remained strong. This performance offers investment opportunities to long-term investors.
Daily chart analysis: Investment opportunity
Despite the bearish sentiment, market liquidity and momentum remained strong. Also the bearish volume remains weak, indicating profit-taking. MACD commenced its bearish signal aligning with the weekly chart’s divergence. With this performance, investors can buy into value.
Fundamental analysis
Financial report for the year 2025
Key Insight: The financial rating for TIP is 100%. This indicates that the stock is suitable for long-term investment
SWOT analysis
