Diamondbank Plc price hit a year high of N2.46 in July before its downward spiral movement coupled with not so good financials has left the company trending lower lows and highs.
Recent rallies have shown the N1.00 zone as strong support levels September till date). Aggressive selling or buying at certain price levels are what creates support and resistance levels. This is an equally uncertain and dangerous phase for DIAMONDBANK now. If it fails to establish a firm support level, it might lapse straight back down below the 80-90 kobo’s significantly, making N1.00 a resistance level.
For now, we would want to see buying at around this level for a few days in order to establish a support level before rebounding towards N1.09-N1.10, this will better ensure the sustainability of the recovery.
- Total bids 1.744 million
- Total offers 1.790 million
- Total volume traded 7.1 million units