NCB Financial stock could hit $190
There are not many stocks to watch this week, as earnings season is almost over, with just a few more reports to be released.
Investors responded well to companies reporting good profit gains and in the case of NCB Financial, to the increased holdings in Guardian Group. The stock seems to have broken through resistance at the $150 level. The $165 region where the stock trades at now is also a resistance area but the strong buying last week at this price point, suggests it is poised to move higher with $190 being the next point of resistance.
Lasco Manufacturing posted strong full year results during the past week with an outstanding fourth quarter that led investors to pick up almost 1.4 million shares resulting in rise of 60 cents on Friday. Barita Investments is enjoying buying interest as the value of stock prices rise and the Jamaican dollar value remains lower than at the end of March, both will likely give a big boost to profit in the June quarter.
Eppley seems to have demand that should push the price higher during the week as the company is getting set to launch an IPO for the Eppley Property Fund. Medical Disposables’ full year’s
SOS expect to maximize profits from all business lines in 2019.
Stationery and Office reported good first quarter results, weeks ago driving renewed interest in the stock. The demand left supply very short, suggesting it is only a matter of time before the price moves higher. Wigton Windfarm hit a low of 72 cents during the past week but closed at 79 cents on Friday and could move back into the 80 cents range in the coming week.
Investors should keep eyes on Jamaica Producers, Sagicor Group and Honey Bun.
