NAHCO


After the markdown for the 1-for-7 bonus issuance and N6.25 dividend, Nacho fell by 22% after adjustments. I do not expect the price to stay there for too long.
Right now, I have cleared my chart and drawn new lines. It’s also important to note that whenever a company does a stock split, a reverse split, a rights issue, a private placement, an IPO, or a stock reconstruction, I always clear my chart to see the adjustments and account for any imbalances or areas where gaps could be filled again.
If we don’t fill the big gap above, another attractive area to bid for this company is around N176.5–N183.8 per share.
Once again, our long-term target for this company is around N500–N1,000 per share
#NFA
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