Nigeria Stock Market Index (NGX All Share)

The overall recommendation is Strong Buy based on technical indicators and moving averages. An RSI over 70 means it is overbought so caution should be taken. The MACD line is above the signal line which is a bullish hint. The 10-day EMA is above the 20-day EMA which suggests short-term strength. The current price is above the 50-day SMA which is a sign of medium-term strength. The 50-day SMA is above the 200-day SMA, supporting a longer-term positive trend. The ATR is 1003.76 which gives a sense of the current price volatility.

Analysts at Afrinvest Limited expect a bullish close for the Nigerian All-Share Index in the near term, provided no negative triggers emerge. Recent market activity has driven the index upward. Gains in medium and large-capitalized stocks including PZ Cussons Nigeria, Eterna, MTN Nigeria Communications, Guaranty Trust Holding Company and Custodian Investment, contributed to this growth. The increase in market capitalization reflects positive investor sentiment and supports the index's upward momentum.