Technical Analysis Tools
In this report, we shall use the following tools and analysis methods:
Elliott’s wave theory to understand the overall market sentiment
Fibonacci tools to determine support and resistance levels
The Relative Strength Index and volume to evaluate the market’s strength
The Money Flow Index to determine the market liquidity
Moving average and MACD to understand the nature of the trend
Top-down analysis to know the best investment position
Companies to watch
FTN Cocoa Processors PLC
FTN Cocoa completed its corrective phase in Wave Z, trading within the 1.0 Fibonnaci level. At this level, traders and investors should expect a strong recovery phase. In line with this sentiment, the stock’s liquidity, volume, and momentum improved.
On July 22, 2026, FTN technical analysis suggested that market players should watch N7 and N8 as a potential strong zone. Closing at N7.59, the price projections for this company include N12.83 and N16.15
Livestock Feed PLC
Livestock retraced to the 1.0 Fibonacci level and commenced a strong recovery phase. This performance completed the Wave C of the intermediate cycle, preparing the stock for a continued bullish rally.
In line with this performance, MACD initiated a bullish signal. The stock’s liquidity, volume, and momentum also closed strongly, indicating attractive investment opportunities. On August 27, 2026, Livestock technical analysis suggested investors watch the 1.0 Fibonacci level as a potential support zone, with prices projected at N10.50 and N14.
Coronation Insurance PLC
WAPIC continued its bullish momentum at the 0.618 Fibonacci level, trading within wave 5 of the minor cycle. This level should conclude the full corrective cycle, as wave 5 can also be 0.618 of Wave 1 and 4.
In line with this performance, the stock’s liquidity and momentum closed strongly, attracting investment opportunities. Notably, MACD initiated its bullish signal. On September 15, 2026, Coronation technical analysis suggested that investors and traders should watch N1.5 and N2 as potential support levels, with prices projected at N3.50 and N4.50.
