Follow Us on Google Discover![[ANALYSIS] Will UBA Share Price Fall To N2 ?](https://cdn.nairametrics.com/wp-content/uploads/2015/08/Fall-down.jpg)
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If you are value investor or fast money trader, then here is one trade to keep an eye on.
UBA one of Nigeria’s tier – 0ne banks is a broken stock ( but not a broken company )and seems to be heading to test the N2 per share mark before, it can mount any meaningful rally. (See chart)
Source: Nairametrics
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As a matter of fact the last time UBA touched the N2 mark in early 2012, it bounced off it to finish up 79 percent for that year.
UBA is currently below its 200 day moving average (blue line) which is also trending lower.
Traders may want to accumulate positions between N1.75 and N2 with a tight stop loss.
UBA has yet to release its Half year 2015 results and that may be the catalyst to push the stock lower to these levels, especially if they disappoint.
UBA closed at N3.01 per share today and is down 57 percent in the past year.
Disclaimer
The writer of this article does not own any UBA stock in his portfolio. He however, intends to buy after the release of half yr 2015 results or if the stock hits his target price.
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Good day Mr ugo ,do you think uba will touch 1.75 -2 naira ..well nothing is impossible , i read from thisday todsy they re considering interim dividend , does that implies the result is going to be good ?
Interim dividend is good but as Access Bank showed, it might not be an immediate reason for the share price to be bullish. Ugodre
You are correct sir , lets see what sept will have for us , will keep an eye on the share price to bottom out ..thou its hard to time the market .Thanks
Good day Mr ugo , the 20k dividend ha been able to trigger a bull run on UBA ..Sir what do u think about their result
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