NGX Sustains Positive Momentum, Despite Mixed Performance And Trend

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Trading activities last week was mixed and strong, despite closing marginally lower on the back of selloffs and profit booking in some highly priced stocks and blue-chip companies that rallied recently after price adjustment for dividend recommended.
The mixed sentiments on the weekly and daily time frame reflected the power of money flow that drives market forces and supports price movements. Around the market, money flow is very important, being the driver of all things. Volume is the key to the market, especially in today’s market where volatility is the order of the day in an extreme level, creating buy and sell opportunities.
And that’s why I take time every day to go through the Money Flows. Where was the biggest volume? In which direction was money moving? Where was the volume today and yesterday?
These are all great questions to ask yourself when you are following the flow of funds, but on their own, they still do not give you enough information to set up Big Money Flow trades. You have to combine fundamental and technical analyses to arrive at a decision of whether to trade or invest. Let the charts and price actions below guide you in the new week:

NGXASI (Opening chart)

NGX Banking Index