Company Overview
Zichis Agro Allied Industries Plc is a Nigerian integrated agribusiness company incorporated in 2012. It converted to a public company in 2024 and was listed by Introduction on the Nigerian Exchange Limited (NGX) January 20, 2026. The company operates across several agricultural value chains, including:
- Oil palm farming
- Poultry production
- Fish farming
- Animal feed manufacturing
- Crop cultivation
- Agro-processing and agricultural distribution services
The company follows a vertically integrated business model, allowing it to participate in multiple stages of the agricultural value chain
Current price: N30
Rating: Buy
Projection with potential percentage gain: N47.50 (+57.50%) or N58.22 (94.07%)
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 analysis: market overview
On the weekly chart, the stock remains within its first wave as the market consolidates. This position offers investment for discount investors.
Daily chart analysis: investment opportunity
On the daily chart, the market is within a WXY correction, which formed an asymmetric triangle. A breakout at the top is a strong bullish signal. After this fourth wave, the stock is expected to reach N47.50 (+57.50%) or N58.22 (94.07%) in the next bull run.
Indicator analysis
Weekly chart analysis: market overview
On the weekly chart, the bearish volume has reduced, signaling a potential bullish market. The market liquidity and momentum remained strong. These are favourable conditions for investment
Daily chart analysis: investment opportunities
Volume sustained its bullish momentum amid profit-taking. In line with this performance, RSI remained solid within its neutral zone. Although the market sustained its downward trajectory, MACD’s bearish momentum signaled divergence. This price action shows a potential trend reversal.
Financial Performance Review
Key Insight: The financial rating for ZICHIS is 100%, which makes it suitable for long-term investment.
