NB – Daily – 10/14/2016 –
Price is marked up but falls off rapidly to close on or near its low normally with an average to wide price spread.
The upthrust is a money making manoeuvre by the market makers to catch stops of those who are short and trap the unwary into buying. Prices are marked up at the open. High volume shows selling by the professionals while low volume shows their lack of interest in the upside.
- Intraday price of N164.00 hits a new 2016 high
- Todays close within is still trending within its Ascending Triangle chart Pattern
Following a true upthrust wait for next price confirmation.
NB PLC DAILY CHART (UPTHRUST BAR)
NB DAILY CHART (ASCENDING TRIANGLE)