Chart reading is a skill that can be beneficial to all investors. Technical analysis of stock trends helps investors determine how the markets in general, and stocks in particular, are likely to behave going forward based on certain factors. When deciding whether to buy (or sell) a stock, investors should carefully examine both the fundamentals of the company and the technical health of the stock.
What to look out when charting to pick stocks:
- When looking for potential stocksto buy, look at both fundamental and technical analysis.
- When you are doing technical analysis of a stock, focus primarily on its momentum and price action, along with its volume pattern and T-
- A stock MUST have positive momentum before you consider buying into Your goal in technical analysis should be to find a tradable stock with strong uptrend potential.
- When you are looking at stock prices, consider the price action, not just its daily fluctuations. Look for price charts that have steep upward trends, with brief and shallow corrections. These are the same characteristics of a desirable resistance and support level.
- A stock’s trading volume pattern can confirm your initial opinion of a stock, but is unlikely to lead you to a great stock idea all by itself. Look for heavy volume on up days (showing accumulation) and lighter volume on down days.
- The 50-Day Moving Average is a helpful indicator in two ways. First, your arget should have held up above this line for the past few months. Second, look for a pattern of sharp rebounds after the stock touches the moving average, and then time your purchases after the stock begins to bounce off the moving average.
Tradable Patterns to watch out for in any market cycle
Double Top
A double top is a bearish pattern. It occurs when a stock attempts to break out above a recent peak but fails. (Remember, that first peak is resistance!)
If a stock doesn’t immediately get through an old peak, it doesn’t mean a double top is forming. In order to get confirmation, the correction low (valley) between the two peaks must be broken to the downside, that is:
Double Bottom
The mirror image of a double top is the double bottom. A double bottom formation is a bullish pattern. But care should be taken not to buy into the stock until the formation is confirmed by a breakout above the peak that’s between the two bottoms, ie:
Sentiment Report For The Ended May 9, 2025
NGXASI buy 82% sell 18% volume index 1.12 MFI 57.75D
Abbey sell 100% MFI 79.78D
Abc Transport buy 100% volume index 2.93 MFI 90.74U
Academy buy 100% volume index 5.72 MFI 58.50U
Accorp buy 24% sell 76% volume index 1.68 MFI 40.67D
Afriprud buy 40% sell 60% MFI 70.95D
Aiico buy 75% sell 25% volume index 0.95 MFI 46.38U
Aradel buy 53% sell 47% MFI 45.72D
Berger buy 100% volume index 0.84 MFI 55.39D
Beta buy 100% volume index 1.05 MFI 100.00
Cadbury buy 100% volume index 3.20 MFI 71.77U
Caverton buy 45% sell 55% volume index 2.47 MFI 74.97U
Chams buy 47% sell 53% volume index 0.84 MFI 56.20U
Cileasing buy 96% sell 4% volume index 0.72 MFI 53.19U
CHH buy 75% sell 25% MFI 66.30U
Corner buy 40% sell 60% MFI 38.85U
Custodian buy 100% volume index 2.11 MFI 26.54D
Cutix buy 100% MFI 15.27U
CWG sell 100% volume index 4.51 MFI 82.74U
Daar buy 67% sell 33% volume index 1.42 MFI 28.89U
Dangcem buy 100% volume index 2.33 MFI 83.71U
Dangsugar buy 100% volume index 0.88 MFI 41.52U
Deap buy 10% sell 90% volume index 3.31 MFI 29.62D
Ellah buy 58% sell 42% volume index 1.18 MFI 39.14U
Eterna buy 31% sell 69% volume index 0.89 MFI 70.45D
Eti buy 100% volume index 2.38 MFI 32.06D
Etranzact buy 100% MFI 53.54D
Fcmb buy 67% sell 33% volume index 0.83 MFI 30.98D
Fidelity buy 29% sell 71% volume index 1.04 MFI 65.43D
Fidson buy 100% volume index 1.20 MFI 75.47U
FHC buy 82% sell 18% volume index 2.01 MFI 76.78D
Ftn buy 25% sell 75% volume index 1.41 MFI 44.70U
GTCO buy 100% volume index 3.76 MFI 55.52U
Guinea buy 44% sell 56% MFI 38.89U
HFM buy 85% sell 15% volume index 0.83 MFI 76.52D
IEI buy 100% volume index 2.64 MFI 53.52U
Jaiz buy 32% sell 68% MFI 39.22D
Jagold buy 67% sell 33% volume index 0.95 MFI 30.66U
Lasaco buy 100% MFI 38.63U
Learn buy 100% volume index 1.12 MFI 28.30U
Linkass buy 100% MFI 48.44U
Lvstk buy 28% sell 72% MFI 63.52U
Mansard sell 1000% MFI 35.75U
M&B buy 57% sell 43% volume index 1.62 MFI 54.44D
Mben buy 50% sell 50% volume index 1.70 MFI 67.49D
Mcnicho sell 100% volume index 4.00 MFI 37.65D
Mtnn buy 100% volume index 0.78 MFI 38.55U
MLTVS buy 100% volume index 2.71 MFI 63.93U
Nahco buy 47% sell 53% volume index 2.23 MFI 78.66U
Nascon buy 100% volume index 0.79 MFI 75.96U
Neimeth buy 85% sell 15% volume index 0.97 MFI 65.75U
Nestle buy 100% volume index 0.79 MFI 88.45D
NNFM buy 100% volume index 1.50 MFI 62.58U
NPFMC buy 30% sell 70% volume index 0.91 MFI 74.04D
Oando buy 62% sell 38% MFI 36.02U
Okomu buy 70% sell 30% volume index 1.87 MFI 83.94U
Omatek buy 87% sell 13% volume index 0.89 MFI 20.61U
Presco buy 98% sell 2% volume index 1.48 MFI 100.00
Prestige buy 60% sell 40% MFI 15.71D
Pz buy 100% volume index 1.90 MFI 65.79U
Red buy 100% MFI 45.74U
Regalins sell 100% MFI 34.34U
Royalex buy 100% MFI 49.00U
RTB buy 100% volume index 0.88 MFI 29.93D
Stanbic buy 100% MFI 35.97D
Sterling buy 100% volume index 0.75 MFI 68.78D
Sunu buy 60% sell 40% MFI 46.78U
Tantalizer sell 100% volume index 4.32 MFI 66.54U
Tip buy 100% volume index 2.76 MFI 94.74U
TPlc buy 0% MFI 63.11D
Uacn buy 48% sell 52% MFI 20.54D
Uba buy 75% sell 25% volume index 0.72 MFI 46.07D
Ucap buy 0% volume index 0.87 MFI 23.88D
Univinsure buy 25% sell 75% MFI 42.24U
UPDC buy 62% sell 38% MFI 70.40D
Upl buy 100% volume index 1.43 MFI 18.71U
Veritas sell 100% volume index 0.77 MFI 43.66U
VFD buy 0% volume index 5.11 MFI 50.71D
Vitafoam buy 100% volume index 2.09 MFI 81.13U
Wapco buy 37% sell 63% volume index 0.90 MFI 54.86D
Wapic buy 70% sell 30% volume index 0.84 MFI 43.19D
Wema buy 100% MFI 65.82U
Zenith buy 79% sell 21% volume index 1.20 MFI 44.97D
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