Jamaica Stock Exchange listed companies will start releasing the December quarterly reports this week. Results could move prices depending on how investors view their strength or weaknesses.
NCB Financial remains on the Watch List with strong gains in operating profit for the December quarter, resulting in increased demand for the stock last week with the price rising to $152.90 but two big trades on Friday peg the price back to $145. The stock should continue to see buying interest around the current level that could well result in another attempt at the $150 level as investors find it difficult to get meaningful supply at the $145 level. There is currently over 210,000 units on offer at $145. The price is currently below near term resistance at $150. If it breaks through then it faces another at $170 with $200 level being the next big one.
Fontana now has a bid to buy 904,281 units at $3.50, with just 56,452 units on offer, for sale at $3.60. A relatively high degree of overhang of supply of the stock that that was on offer, was bought on Thursday. The reduced supply could now pave the way for buyers to be more aggressive in acquiring shares to benefit from the strong potential gains that lie ahead. General Accident enjoyed greater demand in the past week with the price rising to $4. With the 2018 results likely to come out in the region of 45 cents per share that will provide solid incentive for the buyers to pick up the stock.
The three Lasco companies should be releasing results for the December quarter by the end of the week and the prices could see some movements as a result.