NASCON Plc Sentiment Analysis Report - W/E April 20, 2012
Sunday, April 22, 2012/ Proshare Research
NASCON Plc experienced positive sentiments and active bargain tendency in the week to close with a 26.6% gain as against the 1.3% gain recorded in the previous week - an improved bargain sentiments witnessed towards the stock in the week. The stock experienced maximum price gain throughout the week to close bullish in both short and mid-long term period as revealed by price moving average, buttressed by MACD.
In addition, the price position above upper Bollinger band reveals the strong bargain posture of investors, though more distribution was observed during the week as indicated in the volume trend.
However, the stock closed within the overbought region as revealed by RSI, buttressed by price position above upper Bollinger band- this indicates possibility of trend reversal anytime soon. To buttress this further, the money flow index experienced weakness in the last trading session.
Technical conclusion on sentiments: The stock closed in the overbought region while weaknesses was observed in the money flow index - a signal to a possible trend reversal (profit taking) anytime soon; further buttressed by the bearish volume witnessed in the last two sessions.
Nothwistanding, there is a moderate possibility for the stock to extend the price uptrend for few sessions, considering the uptrend momentum.The chart below shows MACD, candlestick, RSI and volume analysis.
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