27,000 POINTS LOOMS

The Financial scorecard of Firstbank PLC paying a dividend of 10kobo and bonus of 1:8, triggered HUGE PROFIT TAKING.

From the magnitude of today's drop, a 27,000-27,200 points is imminent. The current pullback will set the stage for more buying pressure at Lower prices.

From a technical view Current, The index made a minor fake from last high of 27.988 range and bounced back from 28,025 forming a DOUBLE TOP FORMATION
Watching MACD from same time frame with price making a New high at 28,025 points, MACD made a lower high forming a Bearish Divergence.

RSI indicator broke a 70 points resistant range to close at 68.23 points. We expect to find a good support range above the 50 points for market to remain BULLISH.