APRIL WELCOMES THE BULLS

WELCOME TO APRIL.

MARKET RECAP

The Current  quarterly Overall Market YTD figure stands at 24.67%. One if not the Best return in any market till date.

Today's last trading day before Easter Weekend, saw the index move up by 253.49 points closing at 26219.74, valued at N2.754Bn,which explains the relatively low trading volume this week so far. The Market made a critical rebound off its 25,991.90 line today, which saved the intermediate downtrend... for now. Volume remains relatively low and I doubt we will see any explosive action next week.

Here's the interesting part... what usually happens on the week after Easter weekend? Some how, over the past few years, the week after Easter weekend has been positive weeks, even in a market crisis like 2008 . Also, the last trading day before Good Friday has typically been positive days as well. However, these are just something to feel good about since there's no empirical reason or logic behind it.

For now as the NSE ASI resumes an upward drive, it needs to beat its last high of 26,412 level for a breakout confirmation.

I'd advice locking in some profit within these ranges just in case the breakout fails.

Weekly/Monthly time frames looks Healthy.

Table below analyzing market returns in 3 time frames.

CLICK....