The nation’s stock market is forming a triple top as its benchmark All-Share index’s action side trends to consolidate ahead of macroeconomic data and end of the quarter window-dressing by fund managers and other market players. This is even as the half-year earnings reporting season which would give market direction is also around the corner.
Looking at the daily and weekly charts, the Nigerian equity market remains above the ‘T’ line which is eight Days Moving Average exponential.
When the equity market rallies, money is naturally going to flow out of other investment windows. But eventually, when it rolls over and starts to selloff, fixed income instruments will come back to life as funds flow to where higher returns with low risk is guaranteed.
However, overall, it is very important to know where to put your money in any market cycle and volatile time. Let the charts below guide you:
OPENING CHART– NGXASI