News Column

VONO Hits New Low, Sheds - 45.09 Per Cent

September 4, 2014

Helen Oji, With Agency Report

VONO, Wednesday, slipped further into battered zone with another loss of -5.00per cent to extend the active sell-down trend while investors maintained prolonged sell-off tendency towards the stock to close battered in an oversold region.

In addition, the stock hits new low in the year as sale pressure gained tempo, depressing the stock further into full bearish mode with corresponding sharp decline in price momentum.

Also, both money flow index and accumulation pattern recorded similar pattern. This indicates strong pessimistic postures from investors and significant plunge in shareholders' loyalty.

So far in the year, the market outlook revealed gradual and persistent dumping of the shares while the stock had shed weight by -45.09 per cent. This further buttressed the fading of shareholders' loyalty.

Furthermore, the stock closed bearish in both short and mid-long term periods as the relationship between the stock and its moving averages had suggested.

Conclusively, the price analysis revealed unimpressive performance as the stock posted -39.87per cent and -42.77per cent loss as its three months and six months returns respectively while its 52weeks and YTD performance stood at -10.38per cent and -45.09per cent loss respectively.

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Source: AllAfrica

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