July 21, 2016/Proshare

Proshare Research

Last week, we revealed that Skyebank was experiencing active and subtly mop-up activities from smart investors as volume analysis shows attendant growth in volume traded, which further suggests that all hope are not lost.

In the new week, we observed renewed risk-appetite towards the stock as its share price appreciated impressively by 30% in the last three trading sessions, to put the 10days performance at -17.89% while the stock maintained aggressive price recovery pattern.

Furthermore, extensive analysis revealed that the stock has topped traded stocks on the exchange, leading market volume turnover so far in the week with corresponding surge in share price. This reveals sustained and growing accumulation tendency towards the stock.

In addition, volume analysis revealed that the bank had traded 2.49% of its total shares outstanding, exchanging 345.75million units in the last 10days.  Also, the stock contributed 14% of total market turnover in the last 10days.

Conclusively, peer analysis revealed that the share price of Skyebank outperformed its peers during the week, posting 30% gain as its week-to-date returns.