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.

           
AFRINSURE AFRICAN ALLIANCE INSURANCE CO PLC
0.200.00%0.00Sell1.000M4.117B-0.42Financials
ARBICO ARBICO PLC
4.790.00%0.00Sell0
AUSTINLAZ AUSTIN LAZ AND CO PLC
2.090.00%0.00Strong Buy02.257B-0.01Consumer Cyclicals
CHELLARAM CHELLARAMS PLC
3.080.00%0.00Buy02.227B-4.35Industrials
CONOIL CONOIL PLC
23.000.00%0.00Buy4.484K15.961B8.832.61177.00Energy
CWG COMPUTER WAREHOUSE GROUP PLC
2.540.00%0.00Sell06.413B-0.44612.00Technology
EKOCORP EKOCORP PLC
3.370.00%0.00Strong Buy01.680B-0.63Healthcare
ENAMELWA NIGERIAN ENAMELWARE CO PLC
22.100.00%0.00Sell01.680B158.780.14289.00Basic Materials
FIDSON FIDSON HEALTHCARE PLC
5.050.00%0.00Buy27.575B-0.10284.00Healthcare
FORTISMFB FORTIS MICROFINANCE BANK PLC
2.580.00%0.00Buy011.800B110.070.02Financials
FTNCOCOA FTN COCOA PROCESSORS PLC
0.200.00%0.00Sell0440.000M-0.3092.00Consumer Non-Cyclicals
GOLDBREW GOLDEN GUINEA BREWERIES PLC
0.890.00%0.00Strong Buy0242.258M588.00Consumer Non-Cyclicals
MEDVIEWAIR MEDVIEW AIRLINE PLC[BLS]
1.800.00%0.00Buy52017.551B-1.14Industrials
MORISON MORISON INDUSTRIES PLC
0.600.00%0.00Buy0
NIG_GERMAN NIGERIAN-GERMAN CHEMICALS PLC
3.620.00%0.00Buy0
NOTORE NOTORE CHEMICAL IND PLC[BLS]
62.500.00%0.00Neutral0100.625B179.360.35552.00Basic Materials
OMOMORBNK OMOLUABI MORTGAGE BANK PLC[BLS]
0.580.00%0.00Buy04.509B0.02Financials
PRESTIGE PRESTIGE ASSURANCE CO PLC
0.5510.00%0.05Strong Buy1.017M2.691B5.480.0978.00Financials
REDSTAREX RED STAR EXPRESS PLC
5.500.00%0.00Buy5.200K3.242B7.730.712065.00Industrials
ROADS ROADS PLC - NIGERIA
6.600.00%0.00Buy0165.162M323.00Industrials
SKYEBANK SKYE BANK PLC - NIGERIA
0.770.00%0.00Strong Buy010.688B3.850.204408.00Financials
STACO STACO INSURANCE PLC
0.480.00%0.00Buy04.484B-0.09356.00Financials
STUDPRESS STUDIO PRESS NIGERIA PLC
1.990.00%0.00Sell01.184B3.780.5351.00Basic Materials
TOURIST TOURIST COMPANY OF NIGERIA PLC
3.500.00%0.00Sell7507.863B-0.68484.00Consumer Cyclicals
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