2026-03-07 17:53:20

SOVRENINS

Turned on my 50EMA- & 200EMA and saw that Sovereign Trust Insurance Plc lost its 50EMA, which is an early warning sign, but last week the bulls managed to hold above the 50EMA. All Time for Sovereign Trust happened in October 2025 at N4.89/share, and currently, we are down by 46%, and in the last two weeks, SOVRENINS was down by 58%. This is to show you how volatile this stock is. Ultra volatile, so that you could be down by 30% in a week if not properly managed and executed
What do I see happening?
Two scenarios
1. I expect the Bulls to reclaim the N2.75/share, as it was rejected on Friday, and currently, the price is dancing around the EMA50 zone. We hold that region with good volume, the Bulls can dream of N3.56/share as the next target.
2. Failure to hold option 1, then the price will keep dropping to the 200EMA of N1.28/share, which is also acting as a strong support, and I expect a reversal, but this would mean that SOVRENINS will be down by 72% (FOMOLABI TI DARAN if that happens)
I expect option 1 to play out
#NFA #SENKOREQUESTSESSION

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