Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania
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hisah wrote:Britank's recovery is similar to that of Coop bank post listing hard selloff & rally. The listing price (9) is still a barrier until 9.50 is broken with volume spike. That 2nd upleg will be furious. For now insurance counters will consolidate till H1 results are availed. That upleg will sustain till year end. This is still the insurance counters year. Banks had their's last year. Now I wait for mpesa bank results. Let's see if the good news will sustain the buy pressure since Nov 2012. I never expected this elephant to clock above 5.80 in 2013 and I can only watch mr market crazy move. Now that NSE20 is in a reversal mood that is expected to spread into May, any heavy selling (10 - 15%) on mpesa bank post results (if EPS < 0.40) will make the index to sag more. For those still expecting 5400 to print this year, mpesa bank, eabl, member, bbk, coop, scbk, arm & bamburi need to rally at least 20% and sustain those levels. A big boost could also come from kk's recovery above 13. All these will need volume to spike on the bid side.  Interesting volume moves on Britank on an RSI less than 35. Mid morning 2.5 M shares traded by locals.At about 1.00 PM ,foreigners did like 3M shares.Same pattern of behavior like Uchumi,last week when it was trading at 17.8-18 and at an RSI of 31.
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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