UBA erases 4wks loss, leads market on improved fundamentals

Proshare

Friday, September 04, 2015 5:14 PM / Research

Today,
UBA recorded active bargain tendency to extend 9days aggressive price recovery trend with impressive gain of +10.10% as market experienced moderate optimism. The stock hits 4weeks with an upper breakout of 20.9% to close at N3.81 on growing demand, erasing 4-week loss of 22.08%.

This indicates growing optimistic trading towards the stock, from both investors and the shareholders – an indication of improved investors’ loyalty, driven by improved fundamentals as indicated in the recent earnings report.

The recent N0.20kobo interim dividend declared by the firm could not be isolated from the impressive bullish display from both investors and shareholders.



In the recent weeks, the stock continued to record higher highs while holding its resistance at N3.00kobo, which could be traced to positive changes in the fundamentals and stronger financial position as revealed by H1’15 report.


The stock had recorded +27.00% growth in its market value in the last 8days, reflecting an aggressive recovery from its 7Months low of N3.00akobo- after a prolonged sell-down of -46.52% experienced between April 22nd and August 26th 2015.



Technical indicators revealed strong bargain tendency towards the stock to close neutral in short term but remained bearish in mid-long term periods- an indication of growing presence of the bulls, driven by improved financial position noted above.



Also, price analysis revealed an unimpressive performance outlook as the stock posted -27.84% and +2.97% as its 3months and 6 months returns respectively while its 52weeks and YTD performance stood at -47.08% and -11.4% loss respectively.



Conclusively, sub-sector/peer analysis further revealed the stock to be the be among worst performing stocks in the last one year, which further suggests that the sentiments within the sub-sector remained negative towards UBA


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3. UBA Q1 15 A sterling performance driven by improved risk management

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