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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.

           
ARDOVA ARDOVA PLC
15.500.65%0.10Strong Buy291.371K19.972B9.061.70146.00Energy Minerals
BERGER BERGER PAINTS PLC - NIGERIA
7.150.00%0.00Strong Buy123.652K1.942B30.890.22153.00Process Industries
CONOIL CONOIL PLC
20.500.00%0.00Buy41.465K14.226B8.452.43198.00Energy Minerals
CUTIX CUTIX PLC
2.780.00%0.00Buy844.840K4.896B7.830.35Producer Manufacturing
DANGCEM DANGOTE CEMENT PLC
230.000.00%0.00Buy221.758K3910.071B12.8917.8415478.00Non-Energy Minerals
MEYER MEYER PLC.
0.570.00%0.00Buy32.840K302.806M0.252.31Process Industries
MRS MRS OIL PLC - NIGERIA
12.600.00%0.00Buy110.911K3.840B-3.95Distribution Services
NB NIGERIAN BREWERIES PLC
58.300.00%0.00Buy81.648K466.219B48.951.192990.00Consumer Non-Durables
REDSTAREX RED STAR EXPRESS PLC
3.353.72%0.12Strong Buy894.548K2.872B0.19Transportation
SEPLAT SEPLAT PETROLEUM DEVELOPMENT CO PLC
700.001.45%10.00Strong Buy725.847K300.134B36.2419.49Energy Minerals
TOTAL TOTAL PLC - NIGERIA
145.000.00%0.00Buy122.158K49.231B9.1615.84Energy Minerals
UPL UNIVERSITY PRESS PLC
1.680.00%0.00Buy52.287K724.768M52.830.03Consumer Services
VITAFOAM VITAFOAM PLC - NIGERIA
12.050.84%0.10Buy4.131M15.010B3.303.64Process Industries
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