Riding The Bull: As NGX Makes New Historic All-Time High Amid Profit Taking

Imagine standing at the edge of a breakthrough, where every indicator points to a historic surge, a moment when the market transforms uncertainty into opportunity, and the bold are rewarded.

Many stocks on the exchange are making new 52 weeks high in the face of impressive corporate earn­ings and high possibility of dividend growth from listed companies ahead of CBN policy meeting slated for February 18 and 19 2025.

The positive sentiment and position taking ahead of audited financial statements and dividend an­nouncement had helped the market to breakout its strong resistance of 106,087.70 to a new high of 109.851.00, before pulling on back on short term profit taking that part and parcel of market dynamics any where in the world.

NGXASI Daily Chart

The stock market has risen from the ashes of its February 2024 lows, defying odds and reclaiming lost grounds.

Now, it stands at the precipice of a monumental leap, ready to shatter its last resistance and soar be­yond the 109,000 psychological barrier to set a new all-time high.

The stage is set, the signals are clear, and the time to act is now, even with pockets of profit booking in different sectors, as highly priced stocks are already on the move to impact the key performance index.

History favours the bold, and the market rewards the prepared. With institutional funds pouring in as revealed by the oscillating volume patterns and technical indicators aligning, the upside potential is immense for few equities.

The question is not whether the market will rise, but whether you will be positioned to capitalise on this uptrend.

This potential market breakout is being pro­pelled by four key drivers:

Strong Technical Indicators:

The 12-period EMA has crossed above the 26-period EMA, signaling a strong upward momentum.

The MACD is firmly above the signal line, a classic bullish confirmation.

The Relative Strength Index (RSI) sits at 70, un­derscoring the strength of this bullish trend, while money flow reading has fully confirmed the inflow of funds.

Declining 364-Day Treasury Bill Rates:

As yields on 364-day T-bills continue to decline, investors are shifting their focus from fixed-income securities to equities in search of higher returns.

This migration of capital is adding fuel to the mar­ket’s upward trajectory.

Robust Earnings Expectations:

Companies are reporting stronger-than-expected earnings, boosting investor confidence and driving demand for stocks.

As earnings season unfolds, positive surprises are likely to further propel the market.

Institutional Money Flows:

Institutional investors are digesting earnings reports and repositioning their portfolios, pouring significant funds into the market.

This influx of capital is creating a strong founda­tion for sustained growth.

The tools are in your hands, the signals are clear, and the opportunity is here.

The market is on the verge of a historic break­through—don’t just watch it happen. Be part of it.

Kindly, take advantage of the market to grow your hard earn money by investing wisely in any market direction with knowledge and trading your plan.