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UBCAP breaks 2nd key resistance level, records 31.06% gain in 12days

Today, UBCAP recorded an impressive bargain tendency to extend the 12-day uptrend pattern with an upper breakout- an indication of growing enthusiastic trading pattern from both investors and shareholders.

In the recent weeks, the stock had recorded impressive price appreciation of +31.06% between February 23rd and March 11th 2015, following prolonged sell-down activities.

Market outlook in the recent sessions suggested a sustained reversal trend as investors displayed growing bargain optimism towards the stock to break another key resistance point at N1.71kobo after fifth attempts.

In addition, technical indicators revealed a sustained bargain tendency towards the stock as suggested by the upper breakout pattern recorded today. Also, the stock closed neutral in short term but remained bearish in long term periods, buttressing the growing bargain postures noted above.

Conclusively, price analysis revealed mixed performance outlook as the stock posted +8.12% gain and -18.40% as its 3months and 6months returns respectively while its 52weeks and YTD performance stood at -40.55% loss and +5.49% gains respectively.

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