STANBICETF30


Been a while since I posted an analysis on this beautiful ETF that does not track the supposed stocks it claims to track. Instead, this ETF is a speculative play for traders like us.
Down by 69% from its previous ATH of N7,0002/unit. The fomomaleek of this world are in nursing serious injury. Today, we opened with a gap down. Two things:
1. The demand zone of N1,609.8-N1,835.4 per unit must be defended by the bulls, meaning that Fomomaleek will be down by 76%. If I get good confirmation, such as a volume profile to the buy side, I will be throwing some bids.
2. Failure for the Bulls to hold option 1, then that is death for FOMOMALEEK, as they would be down by 85%, and those who hopped on option 1 will be down by 45%.
So in essence, have a stop loss as this is an ultra risky ETF which should not be. But we are here for the volatility, and we love it
Until the @ngxgrp do something about it
#NFA
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