Today, stocks seemed to show a little resilience from the free fall we had been witnessing consistently for the past month. Stock prices had been falling here since March this year. Lots of reasons have been attributed to this falls, but none seems plausible enough to warrant the scale of this slide.
Today things seemed to cool a bit as some stocks started a slight accent. Eight banking stocks appreciated in value at the end of trading this afternoon while nine still went down, though marginally. In Nigeria, it’s the banking stocks that drive the all share index and as such it will not be out of place to witness a halt to the descent of the index.
I will advice my readers to start picking good, fundamentally sound stocks in preparation of a mini Bull Run which I think will give me 10% profit after fees before the trend will weaken.
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