In today’s market volatility, the concern of many market players is how to make good profit in the face of increasing uncertainty around the globe. By identifying where reversals and breakout are occurring and applying trading strategies that work successfully in any market cycle. The NGX outlook on the short run remains mixed, while the medium and long-term are more optimistic now than they were at the beginning of the election year and after the presidential poll. This is especially since the governorship election is gradually bringing the season to an end, giving a clear direction as to where the economy, security and others are heading, given the expected reforms and continuity from the incoming administration. We expect some reversion to the mean after the period of very strong or mixed performance. The market would react favourably to any sign of slow inflation as seen, added to the expected decreased tightening at the next meeting of the Central Bank of Nigeria’s Monetary Policy Committee, which opens on Monday, as well as more corporate earnings with impressive pay-out for the full-year ended December 31, 2022.
Below are the indexes and price actions of selected stocks
NGXASI Weekly Chart (Opening chart)
NGX Industrial Goods
NGX Consumer Goods
Ecobank Transnational Inc