Unilever stock on the NGX reached its all-time low of ₦10 around March 30, 2020, during the global market downturn. From March 2020 to November 4, 2024, it traded in a range between ₦10 and ₦20, consolidating within this zone.
On November 4, 2024, the stock broke out of the ₦10-₦20 range, signalling the start of a bullish rally that has since propelled the price upward.
Currently, the stock has completed a 50% retracement from its last highest point, a significant level often observed in technical analysis. Additionally, its present price is at the FIB 50 level, a key resistance zone that could determine the continuation or reversal of the upward trend.
Traders should closely monitor ₦40, as it represents a significant psychological and technical level to watch for further price action.
Forecast:
If the price breaks above FIB 50, it may continue its rally toward the ₦40 zone.
A rejection at FIB 50 could result in a pullback to test lower support levels.
On November 4, 2024, the stock broke out of the ₦10-₦20 range, signalling the start of a bullish rally that has since propelled the price upward.
Currently, the stock has completed a 50% retracement from its last highest point, a significant level often observed in technical analysis. Additionally, its present price is at the FIB 50 level, a key resistance zone that could determine the continuation or reversal of the upward trend.
Traders should closely monitor ₦40, as it represents a significant psychological and technical level to watch for further price action.
Forecast:
If the price breaks above FIB 50, it may continue its rally toward the ₦40 zone.
A rejection at FIB 50 could result in a pullback to test lower support levels.
노트
This asset is almost at the resistance descending trendline.Watch out for this zone
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관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.