Total Nigeria Plc Sentiment Analysis Report W/E 300312
Monday, April 2, 2012/ Proshare Research
TOTAL experienced bearish sentiments in the week to record -14.3% loss against flat position recorded in the previous month.
There is a strong bearish sentiment towards the stock as the stock records new low throughout the week.
The price is trading below a bottom Bollinger band- this shows the stock is depressed confirming the strong bearish sentiments while MACD and RSI confirmed the bearish mode and depressed posture.
The money flow index revealed outflow of funds from the stock while distribution dominated trading pattern during the week.
Technical conclusion on sentiments: There is a weak bargain tendency and strong bearish sentiment towards the stock which might continue in the coming sessions. The chart below shows MACD, candlestick, RSI and volume.
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