NGX Sustains Bullish Run, Mixed Sentiment, Cautious Trading Ahead Of MPC Outcome

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Nigerian stocks closed higher amidst of seesaw movement by the benchmark NGX All-Share index, as market players bet on the outcome of the first policy meeting of the central Bank of Nigeria this year, and expected unaudited 2022 financials. This has already kicked-off with Universal Insurance and Living trust Mortgage Bank presenting impressive numbers that offer an insight into what investors should expect.

Trading earnings season profitably needs effective combination of fundamentals and technical analyses by way of looking at the charts, identifying trends, patterns and volume to project the future price movement of these indexes and stocks. Here identify the value area which is between the resistance and support levels, by looking at the released dates and the sentiment ahead of the event or numbers if its positive, buy into the market feelers or rumour to sell at the actual announcement, if its negative sell before the expectation become reality.

NGXASI Weekly Chart