Transcorp Hotels Plc has successfully hit Investdata’s first profit target of N280, delivering a 15.75% gain from the original N241.90 reference price. The stock has subsequently advanced to N290.50, lifting the gain from the original analysis. The fundamental backdrop also remains supportive, with H1 2026 PBT rising 12% and PAT increasing 21%, although rising receivables and borrowings warrant monitoring
Current price range: N290.50 – N318.70
Rating: Sell
Next price projection: N320
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
Elliott wave analysis
Daily chart: Entry point
On August 13, 2026, Transcorp Hotels traded between N217.90 and N241.90 with low volume, momentum, and liquidity. This performance prevailed due to profit-taking and discount investing. In line with this performance, the stock recovered and initiated a strong bullish momentum.
Daily chart: Exit point
The stock met strong resistance at N319.40 and retraced to N290.50 after its first target at N280. This strong pullback offers investment opportunities as Transcorp Hotels has potential for continued bullish momentum.
At N280, investors should gain 15.75%. Thus, an investor who invests N500,000 should gain N578,132. The index also surpassed N280 and consolidated at N290.50, which was another go profit-taking zone, with a 20.09% gain (N600,248).
Next Buy-In Opportunity
Transcorp Hotels remains within Wave III of the grand cycle; thus, the stock has potential for a continuous upward market. Given this current pullback, investors should watch N290.50 and N270 as potential support levels, with the price projected at N320.
