Company Overview
Jaiz Bank Plc is Nigeria’s first and largest fully-fledged non-interest (Islamic) bank, having commenced operations in 2012 after receiving a national banking license from the Central Bank of Nigeria (CBN). The bank provides Shariah-compliant financial services to retail, corporate, commercial, SME, and public sector customers. Its business model avoids interest (riba) and instead generates earnings through profit-sharing, trade financing, leasing, and investment-based contracts such as Murabaha, Ijarah, Musharakah, and Mudarabah.
Current price: N8.40
Rating: Buy
Price projection: N17.38 (106.91%)
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 analysis: Market overview
On the weekly chart, Jaiz Bank is within its corrective wave with a strong support at N8.10. This support level also lies within the 0.682 Fibonacci level. Thus, investors should expect an upward rally.
Daily chart: Investment opportunities
Plotting the Fibonacci retracement from the beginning and end of wave W, the price retraced to the 0.618 Fibonnaci level. This level has acted as strong support with investors positioning at N7 and N8. The projection for this stock is N17.38 (106.91%)
Indicator analysis
Weekly chart: Market overview
On the weekly chart, the bullish volume remains low as the stock liquidity recovers. This performance portrays renewed investor interest in the stock. Also, MACD’s bearish signal continues to lose momentum, signaling that a bullish run is on the horizon.
Daily chart: Investment opportunity
Although the market’s liquidity is low, its volume and momentum remain solid. Also, MACD’s bearish momentum signals divergence as the market prepares for a bullish market.
Fundamental analysis
Full financial report for 2025
Key insight: The financial rating for Jaiz Bank is 80%, making it suitable for long-term trading and medium-term investment
SWOT analysis
