Stocks to watch list for this week has the likes of MRS Oil, PZ Nigeria and RT Briscoe, with profit-taking threatening shareholders investment, as the capital market resumes trading.
Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.
Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
Investors at the oil company lost 9.96 percent of their investment last week, as the capital market turned bearish against MRS Oil’s stock, pushing its share price down.
This means MRS will be opening this week’s trading from decliners floor, opening up for aspiring shareholders to buy the dip, but investors need to trade with caution, as last week’s sell off might extend into this week.
PZ is one of the stocks to watch out for this week as the capital market resumes, considering its share was one of the most sought after last week, heading the best gainers chart after five days of trading.
With shareholders investment rising by 17.01 percent last week, the bullish run could trigger a sell off among short position holders, which could plunge the funds held in the company’s vault.
The capital market’s confidence towards the automotive firm has been unstable this month, following February’s bullish run, leading to shareholders losing over 9 percent of their investment last week.
So investors need to trade with caution as RT Briscoe‘s shareholders with short term investment plan are engaging in profit-taking at every bullish run experienced by the firm.