UBA Plc Sentiment Analysis Report - W/E April 20, 2012
Sunday, April 22, 2012/ Proshare Research
UBA Plc closed the week with the highest traded volume, recording 6.8% gain against the -1.5% loss recorded in the previous week- an impressive price reversal as sentiments closed positive and bullish for the week.
The stock closed the week with a strong buying tendency as revealed in the weekly volume trend which closed bullish above previous weekly volume and a 15-day volume moving average by 768.39% and 9.78% respectively. Buttressing this further, the price moving average revealed a bullish mode in short and mid-long term period. Also, MACD suggests a bullish trend as stock closed above signal line.
The northward opening of the upper Bollinger band after a contraction with price position outside upper Bollinger band confirmed the bullish mode further as the stock recorded maximum gain in the last two sessions.
However, the money flow index indicates weakness even as we observed an impressive uptrend momentum as revealed by RSI.
Technical conclusion on sentiments: the emerging sentiments appeared positive while the stock likely to extend the bullish trend in the coming periods, barring all unforeseen market volatility. The chart below shows MACD, candlestick, RSI and volume analysis.
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