Chart Patterns

The technical highlights and chart patterns of this week’s market action

The technical highlights and chart patterns of this week’s market action are the following:

  • The risk level remained high despite the expected quarterly earnings and undervalued state of the market
  • Market Phases on key NSE Indexes are all bullish with ADX running positive and strong
  • High Caps and Growth stocks are taking center stage
  • Volume patterns improved across the board
  • Banking, Telecoms and Agribusiness are surging
  • Market Internals are running rich
  • Investdata sentiment report revealed mixed, while RSI and MFI broke out to show potential overbought situation.   

Chart Patterns to watch in the new week

NSEASI Chart

May & Baker

Eterna

11 PLC

Sterling Bank

BUA Cement

Wapco

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