Scotia Group traded at a 52 weeks’ high on Friday, following the release of record profit results on Monday for the year to October, with the stock having a bit of selling in recent weeks. That seems to have abated with the major seller now appearing to be taken out.
At the close of the market on Friday, there were only 13 offers to sell stocks in the market and 48 bids to buy. The chart below shows the extent of the imbalance between buying and selling as reflected on the Jamaica Stock Exchange trading platform at the close on Friday.
There are only seven offers below $40 per share while bids are cautiously being made. There is interest in buying 247,300 shares as low as $25 and selling amounting to 156,962 shares up to $55.
Bids and offers are just indicative of demand and supply, as there could be more interest that could show up in the days ahead and change the picture. Barring new major developments the data suggest upward price movements ahead. This should be read in conjunction with the posting of why Scotia Group should be on your buy list.
Scotia Group selling dwarfed by buying
December 17, 2023 by
