The MISTAKE !!! which is worth a “N6,401,118” compensation.
The 1st two diagrams show 2 potential price paths for Fidelity Bank’s share price – one bearish where the critical support level is N1.70, the other – bullish where the critical resistance level is N2.90
After attending Fidelity’s conference @ the NGSE on the “mistake”, i was totally disgusted by the nonchalant manner my countrymen take rules for granted…even nobody gets penalized for breaking rules….while simple ”i am sorry” is OK.
How about the next offenders? How many investors check the official NGSE notice board twice for changes in the same content if NGSE/Fidelity Bank fails to inform the market in time? Who are those who made money from insider information on the ”mistake”?
Right now, the trust is gone when NGSE allowed Fidelity Bank to get away with the ”mistake” without compensating investors for the losses caused which may continue to cause the current sudden sell-off in the stock price in the last 2 trading days.
Suggestion: All investors who bought Fidelity Bank shares dd. 29/3/2019 should be compensated with an 11k dividend per share => 58,191,980 x 11k => a “N6,401,118” compensation.
The line in the sand is the N1.70 critical support level. If broken, Fidelity can fall further to the next support level @ N1.38…..our hope is that the stock may be forming a flat pattern thus if yes, a bullish rebound which could take us to N3.62…