University Press Plc was established in Nigeria in 1949, originally operating as Oxford University Press Nigeria. It was incorporated as a public liability company in 1978 and listed on the Nigerian Exchange on August 14, 1978. Its core business is the printing, publishing, distribution and sale of educational and general-interest books and materials
Current price: N5.05
Rating: Buy
Price projection: N7.5 and N8.5
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: Market overview
Current price: N2.45
Rating: Buy
Price projection: N4.5 and N6
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: Market overview
UPL is within its deep ABDCE correction in the weekly chart. Due to this strong bearish sentiment, volume, liquidity, and momentum remained low. Also, MACD’s signal remained indecisive. Despite these sentiments, UPL offers trading opportunities for short-term to medium-term investors.
Daily chart: Trading opportunity
On the daily chart, the strong profit-taking prevailed after a brief bullish momentum. Traders should watch N4 and N4.5 as potential support levels with price projected at N7.5 and N8.5.
