The August 27, 2026 Investdata technical analysis rated Livestock Feeds Plc (LIVESTOCK) at N7.20 a Buy, projecting a price target of between N10.50 and N14.00. The first target has now been reached and exceeded.
On October 6, 2026, the stock traded around an intraday price of N10.70 per share, after closing at ₦ N9.75 each on October 5. Today’s move has taken the stock above the original N10.50 target.
Current price range: N10.70 per share
Rating: Sell
Next price projection: N12 and N14
Technical Analysis Tools
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
Daily chart: Entry point
On August 27, 2026, Livestock traded at N7.20 per share within the 0.786 Fibonacci level. At this level, the stock had low momentum and volume with solid liquidity. Given this sentiment, the stock was expected to recover as it traded within the final wave in Wave IV of the grand cycle. In line with this performance, the stock met strong support within the 1.0 Fibonacci level at N6.55.
Daily chart: Exit point
After meeting strong support at N6.55, the stock saw strong bullish momentum. Livestock rose to N10.70 each, hitting its first profit target at N10.50. Thus, investors who bought with the 1.0 Fibonacci level at N6.55 should gain 63.36% as the share price reached N10.70. Also, a N500,000 investment would have risen to approximately N816,800, representing a profit of about N316,800 before transaction costs.
Next Buy-In Opportunity
The next buy-in opportunity will be at a strong pullback. Thus traders should expect a pullback to buy into value. Given that Livestock’s fundamentals improve, the stock is expected to surpass its all-time high and initiates Wave V of the grand cycle. The next price projections are N12 and N14 each.
