Japaul Gold & Ventures Plc is a diversified Nigerian company listed on the Nigerian Exchange (NGX). Originally recognized for its marine logistics, dredging, and offshore support services, the company has strategically repositioned itself as a diversified natural resources and infrastructure company with a strong leaning towards the mining of gold and solid minerals, while maintaining its dredging and shipping operations.
Current price: N2.97
Rating: Buy
Price projection: N4.55 (55.33%) and N5.55 (83%)
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
On the weekly chart, Japaul Gold completed a full corrective phase. Thus, it’s expected that the stock should commence a strong bullish rally. Also, the price projections for Japaul include N4.55 (55.33%) and N5.55 (83%)
Daily chart: Investment opportunity
On the daily chart, the stock completed a deep zig-zag correction. Given this sentiment, invstor should watch N2.50 and N2.70 as potential support levels.
Indicator analysis
Weekly chart: Market overview
On the weekly chart, liquidity and momentum are moderate. Also, MACD’s bearish signal remains strong, indicating a continuous pullback. Given this sentiment, investors can buy into value
Daily chart: Investment opportunity
While the market remains bearish, its liquidity and momentum regain their strength. This performance indicate that investors are buying into value.
SWOT analysis
