Academy Press Plc is one of Nigeria’s long-established printing and publishing companies. It operates from Lagos and provides printing-related services, with its revenue substantially linked to books and other printed materials. Its business is therefore exposed to the broader education, corporate, government publishing and commercial sectors.
Current price: N6.15
Rating: Buy
Price projection: N10 and N12
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
Academy should complete the final phase of its correction as the market displays recovery signs on the weekly chart. Currently, the price is within the 1.618 Fibonacci level; thus, investors should expect a market recovery.
The indicators have started showing recovery signs. The stock’s liquidity remains strong as volume remains constantly bullish. Also, MACD sustained its bearish divergence signal, preparing traders for a bullish run.
Daily chart: Trading opportunity
On the daily chart, Academy attempts to recover as traders buy into value. Traders should watch N5 and N6 as potential support levels, with N10 and N12 as the price projections. The stock’s liquidity remains solid as momentum attempts recovery.
SWOT Analysis
