TIP

I decided to switch my TIP chart to the daily timeframe because it tells a much clearer story.
After printing an all-time high of ₦42.30/share, the stock has corrected by about 39%, creating what I believe is an attractive setup. More importantly, Friday's price action caught my attention. A total of 49.31 million units worth approximately ₦1 billion changed hands, with buyers firmly dominating the session.
If you recall my earlier analysis, I highlighted ₦21.70/share as a key accumulation zone. During Friday's intraday session, TIP opened with a gap down, but buyers aggressively absorbed the selling pressure, filled the gap, and took control after a highly volatile session.
Going into this week, I see two possible scenarios:
1. Bullish Scenario: Price opens with a gap up, breaks above the ₦26.50/share resistance, and resumes its uptrend.
2. Bearish Scenario: Price fails to gap higher, gets rejected at ₦26.50/share, and what we're seeing turns into nothing more than a dead-cat bounce before liquidity is swept below and price revisits the ₦21.70/share demand zone.
At the moment, I favor the first scenario.
The reason is simple: Friday printed a textbook Hammer candlestick, one of the strongest bullish reversal patterns when it appears after a sustained downtrend. What makes this hammer even more significant is where it formed. The long lower wick pierced the major support at ₦21.70/share before buyers stepped in aggressively, rejecting lower prices and forcing the bears to retreat. That type of price action often signals strong institutional demand.
From both a technical and valuation perspective, I believe TIP remains significantly discounted. In my view, this is fundamentally a ₦50–₦75/share stock in the medium term, while my long-term target remains in triple digits. It would not surprise me if many investors look back at these levels and wish they had taken advantage of them.
#NFA #SENKOREQUESTSESSION