Looking at ZENITHBANK

stock on the Nigerian Stock Exchange, a lot has been happening lately. The stock rallied to a high of ₦137 per share, which marked its all-time high, before pulling back. It has now retraced to around the 50% Fibonacci retracement level, which is approximately ₦100 per share.

Technically, I believe the stock is likely to resume its upward movement from this level if the underlying fundamentals remain favorable. On my chart, the ascending trendline also converges around the ₦100 price zone, creating a strong area of technical confluence.

Based on this analysis, I plan to begin building my position using a dollar-cost averaging (DCA) strategy. I will start buying from around ₦100 per share. If the stock declines further, I will continue buying to average my entry price.

However, if the price falls to around ₦90 per share, I am likely to exit the position and accept a loss. For now, I'll continue monitoring how the market develops from here.
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