Consolidated Hallmark Insurance Plc (Conhall) has been quietly building momentum on the Nigerian Exchange after reporting stronger earnings and attracting higher retail participation. The stock is now in a post-recovery uptrend, with technicals showing a neutral-to-bullish outlook. Price is respecting major support and resistance levels, suggesting traders should watch the ₦3.9–₦4.4 band closely.
Market Snapshot
Latest price: ₦4.30–₦4.50 (varies across data feeds)
Day range (recent session): ₦3.65 – ₦4.43
52-week range: ₦1.27 – ₦6.19
Market cap: About ₦45 billion
Volume: Active — often multi-million shares per day, with some sessions above 10 million
Fundamentals (TTM):
Revenue: ₦50–53 billion
Net income: ₦16 billion
EPS: ₦1.50
P/E: ≈ 2.8 (very low compared to market peers)
Dividend: Ex-date August 18, 2025
This paints the picture of a company with improving earnings, a relatively cheap valuation, and a stock that’s getting attention from traders.
Technical Overview
Trend: Higher lows and higher highs since the 2024 low (₦1.27).
RSI (momentum): 52 — neutral, leaving room for further gains.
Support levels: ₦3.80–₦4.05 (recent congestion area), deeper support ₦3.45.
Resistance levels: ₦4.40–₦4.70 (current ceiling).
Breakout watch: A strong move above ₦4.70 on volume could open the door toward ₦5–₦6.
In plain terms: the stock is in a healthy trend, but still working to break out of short-term resistance.
Liquidity & Order Flow (Smart Money Lens)
Demand zones: ₦3.8–₦4.0 (buyers previously stepped in here).
Supply zones: ₦5.0–₦6.2 (previous highs).
Fair value gaps: Fast rally into the ₦4s left imbalances in the ₦3.2–₃.7 range — these could be retested on pullbacks.
This means institutional players may look to buy dips around ₦3.8–₄.0 and offload near ₦5–₆.
Patterns and Structure
Rising channel: Conhall is climbing steadily inside a channel, which usually supports continuation.
Flag resistance: ₦4.40–₦4.70 — a breakout zone to watch.
No reversal patterns: No head-and-shoulders or topping structure for now.
As long as the rising channel holds, the bullish case stays intact.
Elliott Wave View (Simplified)
The rise from ₦1.27 (2024) to ₦6.19 (2025) looks like part of a larger bullish cycle.
Current action may be a corrective pause before another upward leg.
Invalidation: If the stock closes below ₦3.45, the bullish count fails and a deeper correction could unfold.
Fundamentals in Focus
Q2 2025 results (NGX filings): Stronger revenue, improved net income, and a healthier balance sheet with more financial assets.
Business model: Insurance and related services. Earnings can be “lumpy” quarter-to-quarter, but long-term fundamentals are trending positively.
Investor note: Strong financials support a medium-term bullish outlook, but investors should monitor underwriting performance and investment income.
Cycle & Scenario Forecast
Bull case (50%): Small pullback then rally to ₦5–₦6.
Range case (30%): Price consolidates between ₦3.6–₦4.7 as accumulation continues.
Bear case (20%): Breakdown below ₦3.45, with risk of a drop to ₦2.5–₃.0.
Trade Plans (Swing Strategy)
- Aggressive (Buy the Dip)
Entry: ₦3.80–₦4.05
Stop-loss: ₦3.45
Targets: ₦4.60 → ₦5.20 → ₦6.10–₦6.19
Risk mgmt: Take partial profit at ₦4.60, trail stop higher after that
2. Conservative (Breakout Confirmation)
Entry: Daily close above ₦4.60–₦4.70 with strong volume
Stop-loss: ₦4.05
Targets: ₦5.20 → ₦6.10–₦6.19
3. Defensive Plan
Exit all longs if price closes below ₦3.45.
Shorts possible only if market structure turns bearish and venue allows.
Bottom Line
Conhall is showing a constructive uptrend backed by improving earnings and strong market activity. With neutral momentum and visible support zones, the best trade setups are buying disciplined dips into ₦3.8–₦4.05 or buying a confirmed breakout above ₦4.6–₦4.7.
Unless ₦3.45 fails, the roadmap points toward a medium-term move into the ₦5–₦6 region, making Conhall one of the more attractive stocks to track in the Nigerian market.
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