Overvalued stocks — Nigerian Stock Market

Stocks that have significantly increased in price due to a large demand are called overbought. This is often the case when there are too many buyers who push the price so high that it can’t be justified by company financials. When sellers start outweighing buyers, the price can change its direction. Another scenario that causes stocks to become overbought is when a company buys back its own stocks. Be careful when buying overvalued stocks as there could be a retracement.

           
AFROMEDIA AFROMEDIA PLC
0.500.00%0.00Neutral602.220B5.900.08Consumer Cyclicals
AIRSERVICE AIRLINE SERVICES AND LOGISTICS PLC
7.050.00%0.00Buy04.470B3.012.34504.00Industrials
ARBICO ARBICO PLC
4.790.00%0.00Sell35
AUSTINLAZ AUSTIN LAZ AND CO PLC
2.090.00%0.00Buy02.257B-0.02Consumer Cyclicals
CHAMS CHAMS PLC
0.360.00%0.00Strong Buy13.839M1.691B4.990.0733.00Technology
CHELLARAM CHELLARAMS PLC
3.080.00%0.00Sell02.227B-4.35Industrials
CWG COMPUTER WAREHOUSE GROUP PLC
2.540.00%0.00Sell06.413B-0.48612.00Technology
EKOCORP EKOCORP PLC
3.370.00%0.00Buy151.680B-0.66Healthcare
ELLAHLAKES ELLAH LAKES PLC
4.260.00%0.00Buy0
ENAMELWA NIGERIAN ENAMELWARE CO PLC
22.100.00%0.00Sell01.680B158.780.14289.00Basic Materials
FIRSTALUM FIRST ALUMINIUM NIGERIA PLC
0.417.89%0.03Strong Buy400.000K865.247M5.770.07278.00Basic Materials
FTNCOCOA FTN COCOA PROCESSORS PLC
0.200.00%0.00Sell0440.000M-0.3092.00Consumer Non-Cyclicals
GOLDBREW GOLDEN GUINEA BREWERIES PLC
0.890.00%0.00Buy0242.258M588.00Consumer Non-Cyclicals
INFINITY INFINITY TRUST MORTGAGE BANK PLC
1.420.00%0.00Sell05.922B6.020.24Financials
INITSPLC THE INITIATES PLC
0.800.00%0.00Buy0
JULI JULI PLC
1.670.00%0.00Sell0
LAWUNION LAW UNION AND ROCK INSURANCE PLC
0.540.00%0.00Buy40.000K2.320B2.890.19170.00Financials
MEDVIEWAIR MEDVIEW AIRLINE PLC
1.800.00%0.00Buy017.551B-1.06Industrials
MORISON MORISON INDUSTRIES PLC
0.550.00%0.00Neutral0
NOTORE NOTORE CHEMICAL IND PLC[BLS]
62.500.00%0.00Neutral0100.625B-0.09552.00Basic Materials
PREMPAINTS PREMIER PAINTS PLC
10.400.00%0.00Buy501.279B-0.5657.00Basic Materials
REDSTAREX RED STAR EXPRESS PLC
5.500.00%0.00Buy03.242B7.730.712065.00Industrials
STERLNBANK STERLING BANK PLC
2.740.00%0.00Strong Buy8.128M78.885B8.560.321600.00Financials
STUDPRESS STUDIO PRESS NIGERIA PLC
1.990.00%0.00Sell01.184B4.390.4551.00Basic Materials
THOMASWY THOMAS WYATT PLC - NIGERIA
0.250.00%0.00Buy055.000M-0.6151.00Industrials
TOURIST TOURIST COMPANY OF NIGERIA PLC
3.500.00%0.00Sell2107.863B-1.68484.00Consumer Cyclicals
UNIONDICON UNION DICON SALT PLC
13.450.00%0.00Sell03.677B-0.49398.00Consumer Non-Cyclicals
VANLEER GREIF NIGERIA PLC
9.100.00%0.00Buy0
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