Selected Chart Pattern Of NGX Stocks To Watch

The nation’s stock market is in a confirmed uptrend or markup phase following three trading sessions of rebound which were on strong buying sentiments as Friday trading closed above 54,000 psychology line to record more than 2%, providing some encouragement as large-cap stocks and telecoms giant Airtel Africa led the rally.  As NGX index action trades around its August 2007 region to return 27% YTD.  On this note, do not miss the next wave as investors and traders weigh on impressive corporate earnings in the midst of a 0.87% Q1 GDP contraction, rate hike, and rising inflation.

Commodity back stocks are finding their bottom as rising inflation threats fixed income market yields in the face of an interest rate hike. As stronger earnings of listed companies would support high earnings and dividend yields. Looking at the interim dividend-paying stocks in the banking, telecoms, industrial, consumer goods, and energy ahead of the half-year earnings season.

NGXASI

ETI

ACCESSCORP

UBA

LAFARGE AFRICA

AIRTEL AFRICA

MTNN

DANGOTE CEMENT

SEPLAT ENERGY

TRANSCORP

JULIUS BERGER

ZENITH BANK

As you effectively combine fundamental and technical analysis in picking stocks, especially at this level of the market rally.  Knowing that correction is inevitable, just as a continuation of the trend is very possible. So if the market rally continues to gain strength, you will have opportunities to reap big gains but also look towards strong stocks group and sectors to play defence.

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