First Bank (FBNH Plc) is looking like a good buy to me right now.
From the above chart we see clear divergence. Price is making lower lows, but our oscillators are finding support which may mean that selling pressure is waning and buyers may soon take over, this week, probably.
Buy now with a view to exiting in at least 3 months time. Unlike my day trading in the global markets, I see the Nigeria stock market as a value investment vehicle where you buy and hold stocks for a very long time.
Another stock that is looking cheap and good to buy and hold, IMO, is FCMB, see chart below:
Other stocks that I am watching patiently to buy later this month or next are Transcorp, Presco, NB, GTB and IntBrew.
I want to own these stocks long term, because they are fundamentally viable, IMHO, but I feel that right now they are expensive and should still slide further, so I will wait awhile for them to sell off some more before recommending them as a good buy at much cheaper levels.
As always, this trade outlook is purely for educational purposes.
Please seek the professional advice of your financial advisor before taking any investment decision.