MACD Bearish

85 stocks matched · Updated daily after market close

A bearish MACD occurs when the MACD line falls below its signal line, signalling that short-term downward momentum is strengthening. This is used as a warning signal by technical traders — either to exit long positions or to look for short-selling opportunities. The further the MACD dips below zero (negative territory), the stronger the bearish momentum.

MACD Bearish — 85 Stocks

Sorted by signal strength

Company	Sector	Price (₦)	% Change	Volume	RSI	MACD	MA 50	MA 200
ARADEL HOLDINGS PLC ARADEL	OIL AND GAS	₦1415.0000	+3.0600%	2,379,885	41.4697	-42.5617	₦1498.7540	₦1091.2990
MTN NIGERIA COMMUNICATIONS PLC MTNN	ICT	₦807.0000	+4.2600%	7,321,852	49.9633	-10.2173	₦809.6180	₦621.1080
UNILEVER NIGERIA PLC. UNILEVER	CONSUMER GOODS	₦114.0000	+0.0000%	256,062	22.5194	-6.5207	₦131.2300	₦86.6995
TOTALENERGIES MARKETING NIGERIA PLC TOTAL	OIL AND GAS	₦576.0000	+0.0000%	13,442	0.4329	-5.0380	₦638.7200	₦454.2890
BUA CEMENT PLC BUACEMENT	INDUSTRIAL GOODS	₦309.0000	-2.2200%	2,897,695	16.2443	-4.8190	₦324.9940	₦229.6650
FIDSON HEALTHCARE PLC FIDSON	HEALTHCARE	₦79.0000	+2.6000%	1,315,192	20.2456	-4.7126	₦96.3490	₦66.4718
HBM NIGERIA PLC HBMNG	INDUSTRIAL GOODS	₦335.0000	+0.3000%	6,252,038	42.4068	-4.2667	—	—
NIGERIAN EXCHANGE GROUP NGXGROUP	FINANCIAL SERVICES	₦133.4000	+6.7200%	4,505,737	50.3379	-3.0481	₦132.7680	₦109.2983
ZICHIS AGRO ALLIED INDUSTRIES PLC ZICHIS	AGRICULTURE	₦14.5500	+0.3400%	3,992,730	19.2929	-2.4482	₦22.6088	—
CHAPEL HILL DENHAM NIG. INFRAS DEBT FUND NIDF	CONSTRUCTION/REAL ESTATE	₦147.7000	+0.0000%	14,136	27.5051	-1.8689	₦149.6620	—
STANBIC IBTC HOLDINGS PLC STANBIC	FINANCIAL SERVICES	₦156.1000	+0.0000%	2,117,957	32.2278	-1.8049	₦161.8820	₦125.1033
DANGOTE SUGAR REFINERY PLC DANGSUGAR	CONSUMER GOODS	₦70.0000	+1.4500%	5,374,771	44.5271	-1.4406	₦71.9800	₦68.4940
TRANSNATIONAL CORPORATION PLC TRANSCORP	CONGLOMERATES	₦36.7500	+2.0800%	8,078,721	36.6607	-1.2115	₦39.6900	₦45.4988
IKEJA HOTEL PLC IKEJAHOTEL	SERVICES	₦42.5500	+9.9500%	1,743,641	46.8100	-1.0924	₦44.2030	₦29.8513
THE INITIATES PLC TIP	SERVICES	₦25.1500	-0.4000%	9,204,483	43.2848	-1.0761	₦28.1040	₦21.7224
CHELLARAMS PLC. CHELLARAM	CONGLOMERATES	₦9.7000	+0.0000%	37,853	0.5079	-0.9049	₦12.4330	—
JOHN HOLT PLC. JOHNHOLT	CONGLOMERATES	₦9.1000	+0.0000%	140,969	26.3174	-0.6395	₦10.8550	₦9.5119
INTERNATIONAL BREWERIES PLC. INTBREW	CONSUMER GOODS	₦9.8000	+5.9500%	1,891,891	38.5439	-0.6277	₦11.4090	₦12.8865
CUSTODIAN INVESTMENT PLC CUSTODIAN	CONGLOMERATES	₦73.4500	+0.0000%	214,328	52.1339	-0.5627	₦73.1180	₦55.7757
INTERNATIONAL ENERGY INSURANCE PLC INTENEGINS	FINANCIAL SERVICES	₦2.8200	-0.7000%	16,766,801	29.0854	-0.4365	₦4.6824	₦3.5190
FIDELITY BANK PLC FIDELITYBK	FINANCIAL SERVICES	₦20.0000	+4.1700%	8,963,215	47.5086	-0.4051	₦20.2510	₦19.9675
AFRICA PRUDENTIAL PLC AFRIPRUD	FINANCIAL SERVICES	₦11.1000	+0.0000%	966,081	34.1485	-0.3685	₦12.2550	₦14.1695
DEAP CAPITAL MANAGEMENT & TRUST PLC DEAPCAP	FINANCIAL SERVICES	₦3.8000	+1.3300%	9,435,501	34.4897	-0.3438	₦4.9888	₦3.6475
MCNICHOLS PLC MCNICHOLS	CONSUMER GOODS	₦4.5000	+0.0000%	1,511,013	36.0052	-0.3304	₦5.8470	₦5.7716
R T BRISCOE PLC. RTBRISCOE	SERVICES	₦11.4000	+0.0000%	385,034	42.4187	-0.3216	₦12.1660	₦9.3161
LIVESTOCK FEEDS PLC. LIVESTOCK	AGRICULTURE	₦7.8000	+8.3300%	1,512,407	46.2171	-0.2804	₦8.2980	₦7.8952
NEIMETH INTERNATIONAL PHARMACEUTICALS PLC NEIMETH	HEALTHCARE	₦7.9000	+1.2800%	820,388	45.3132	-0.2692	₦8.5290	₦8.9557
WEMA BANK PLC. WEMABANK	FINANCIAL SERVICES	₦29.0000	+1.0500%	2,278,179	48.5828	-0.2681	₦29.1820	₦26.3600
ELLAH LAKES PLC. ELLAHLAKES	AGRICULTURE	₦7.9000	-0.6300%	2,479,122	39.4505	-0.2513	₦8.5640	₦11.3848
LEARN AFRICA PLC LEARNAFRCA	SERVICES	₦8.7000	+0.0000%	93,542	22.3187	-0.2436	₦9.8990	₦7.8102
CONSOLIDATED HALLMARK HOLDINGS PLC CONHALLPLC	FINANCIAL SERVICES	₦6.0100	-4.6000%	6,499,196	32.5527	-0.2361	₦6.7908	₦5.4305
CAVERTON OFFSHORE SUPPORT GRP PLC CAVERTON	SERVICES	₦4.2000	+0.0000%	747,913	29.7312	-0.2294	₦5.0800	₦6.0816
AXAMANSARD INSURANCE PLC MANSARD	FINANCIAL SERVICES	₦12.0000	+0.0000%	561,902	46.2193	-0.2230	₦12.3520	₦13.9234
AUSTIN LAZ & COMPANY PLC AUSTINLAZ	INDUSTRIAL GOODS	₦2.7200	+8.8000%	1,036,500	31.8260	-0.2049	₦3.2998	₦3.2500
JAIZ BANK PLC JAIZBANK	FINANCIAL SERVICES	₦7.9000	-0.6300%	18,376,358	39.0523	-0.1907	₦8.5090	₦7.6296
FTN COCOA PROCESSORS PLC FTNCOCOA	AGRICULTURE	₦7.5000	-6.2500%	1,420,322	36.1858	-0.1905	₦8.3544	₦6.9598
SUNU ASSURANCES NIGERIA PLC. SUNUASSUR	FINANCIAL SERVICES	₦3.1200	+9.8600%	482,585	44.1625	-0.1806	₦3.5420	₦4.4281
THOMAS WYATT NIG. PLC. THOMASWY	NATURAL RESOURCES	₦2.7500	+0.0000%	82,676	38.2978	-0.1692	₦3.1098	₦2.5220
E-TRANZACT INTERNATIONAL PLC ETRANZACT	ICT	₦13.2500	+0.0000%	200,813	10.9142	-0.1679	₦14.5940	₦13.8272
ABBEY BANK PLC ABBEYBANK	FINANCIAL SERVICES	₦7.7000	-9.4100%	607,681	39.0899	-0.1606	—	—
UNITED CAPITAL PLC UCAP	FINANCIAL SERVICES	₦17.9500	+5.5900%	12,694,094	55.2992	-0.1534	₦17.6940	₦18.1668
FORTIS GLOBAL INSURANCE PLC FTGINSURE	FINANCIAL SERVICES	₦1.9400	+0.0000%	550,123	38.4666	-0.1451	₦2.3292	—
LIVINGTRUST MORTGAGE BANK PLC LIVINGTRUST	FINANCIAL SERVICES	₦3.2500	+0.0000%	238,833	29.2057	-0.1346	₦3.6608	₦4.1340
CRITICAL MINERALS FINANCING CORP PLC CMFC	FINANCIAL SERVICES	₦2.7700	-4.4800%	4,427,823	33.6778	-0.1337	—	—
TANTALIZERS PLC TANTALIZER	SERVICES	₦3.8200	-4.9800%	7,909,175	37.2697	-0.1201	₦4.2726	₦3.7661
ROYAL EXCHANGE PLC. ROYALEX	FINANCIAL SERVICES	₦0.9600	+9.0900%	2,305,989	26.2571	-0.1185	₦1.2836	₦1.7108
CHAMS HOLDING COMPANY PLC CHAMS	ICT	₦3.9900	+0.2500%	9,637,604	36.5694	-0.1011	₦4.3024	₦3.8114
AIICO INSURANCE PLC. AIICO	FINANCIAL SERVICES	₦3.7600	+1.6200%	5,499,563	38.9415	-0.0951	₦4.0306	₦4.0797
C & I LEASING PLC. CILEASING	SERVICES	₦5.4000	+0.0000%	504,604	41.7946	-0.0948	₦5.6910	₦6.4220
CORONATION INSURANCE PLC WAPIC	FINANCIAL SERVICES	₦2.1900	+6.8300%	17,011,112	45.5807	-0.0938	₦2.3374	₦2.8565
VERITAS KAPITAL ASSURANCE PLC VERITASKAP	FINANCIAL SERVICES	₦1.1500	-0.8600%	28,981,233	31.7551	-0.0810	₦1.4076	₦1.8247
HONEYWELL FLOUR MILL PLC HONYFLOUR	CONSUMER GOODS	₦17.0000	+6.2500%	3,065,829	50.0771	-0.0791	₦16.6400	₦20.1090
SOVEREIGN TRUST INSURANCE PLC SOVRENINS	FINANCIAL SERVICES	₦1.8800	+9.9400%	8,898,358	38.9367	-0.0670	₦1.9206	₦2.4269
FCMB GROUP PLC. FCMB	FINANCIAL SERVICES	₦11.7000	+5.8800%	24,954,884	48.5247	-0.0643	₦11.1960	₦11.3232
NEM INSURANCE PLC NEM	FINANCIAL SERVICES	₦30.9500	+0.0000%	288,068	49.3508	-0.0620	₦30.0450	₦27.6047
DAAR COMMUNICATIONS PLC DAARCOMM	SERVICES	₦1.5100	+0.0000%	1,305,768	43.0031	-0.0576	₦1.6428	₦1.5745
JAPAUL GOLD & VENTURES PLC JAPAULGOLD	OIL AND GAS	₦2.7500	-3.8500%	14,865,373	39.2919	-0.0502	₦2.9782	₦2.9802
UNIVERSAL INSURANCE PLC UNIVINSURE	FINANCIAL SERVICES	₦0.7700	+0.0000%	0	35.9689	-0.0409	₦0.8996	₦1.1240
LASACO ASSURANCE PLC. LASACO	FINANCIAL SERVICES	₦1.8800	+1.6200%	1,063,001	45.1859	-0.0275	₦1.9398	₦2.3304
SECURE ELECTRONIC TECHNOLOGY PLC NSLTECH	SERVICES	₦0.7600	+2.7000%	4,853,008	43.1990	-0.0194	₦0.8028	₦0.9532
PRESTIGE ASSURANCE PLC PRESTIGE	FINANCIAL SERVICES	₦1.4000	-2.1400%	2,708,324	43.5107	-0.0181	₦1.4592	₦1.5578
UNITY BANK PLC UNITYBNK	FINANCIAL SERVICES	₦1.5100	+0.0000%	0	51.8759	0.0001	₦1.5100	₦1.7566
AFROMEDIA PLC AFROMEDIA	SERVICES	₦0.2400	+0.0000%	0	100.0000	0.0002	₦0.2400	—
JULI PLC. JULI	SERVICES	₦7.2500	+0.0000%	1,005	58.7540	0.0013	₦7.2500	—
GOLDEN GUINEA BREW. PLC. GOLDBREW	CONSUMER GOODS	₦7.1000	+0.0000%	0	83.4670	0.0137	₦7.1000	—
UNION DICON SALT PLC. UNIONDICON	CONSUMER GOODS	₦23.7500	+0.0000%	8,623	78.1579	0.0544	₦23.7500	—
S C O A NIG. PLC. SCOA	CONGLOMERATES	₦33.0500	+0.0000%	16,005	83.9640	0.0741	₦33.0500	₦16.5145
NIGERIAN ENAMELWARE PLC. ENAMELWA	CONSUMER GOODS	₦40.7000	+0.0000%	0	91.6263	0.0856	₦40.7000	—
VFD GROUP PLC VFDGROUP	INVESTMENT	₦11.2500	-0.4400%	1,435,254	42.0820	0.0971	₦11.1660	₦11.2730
SFS REAL ESTATE INVESTMENT TRUST SFSREIT	CONSTRUCTION/REAL ESTATE	₦418.7500	+0.0000%	635	99.9267	0.1769	₦418.7500	—
JULIUS BERGER NIG. PLC. JBERGER	CONSTRUCTION/REAL ESTATE	₦310.8000	+0.0000%	9,725	65.2670	0.2095	₦310.8000	₦194.5883
ABBEY MORTGAGE BANK PLC ABBEYBDS	FINANCIAL SERVICES	₦8.0500	-7.4700%	719,840	44.4048	0.2688	₦7.6730	₦6.3223
CONOIL PLC CONOIL	OIL AND GAS	₦210.0000	+0.0000%	55,447	65.1463	0.2777	₦209.7400	₦154.0465
DANGOTE CEMENT PLC DANGCEM	INDUSTRIAL GOODS	₦1034.0000	+0.0000%	878,097	50.8334	0.3477	₦1029.7000	₦709.5445
BERGER PAINTS PLC BERGER	INDUSTRIAL GOODS	₦147.6000	+0.0000%	2,956	82.9495	0.3954	₦147.6000	₦77.0842
BETA GLASS PLC. BETAGLAS	INDUSTRIAL GOODS	₦562.8000	+0.0000%	12,494	68.5749	0.4477	₦562.8000	₦319.6882
UPDC REAL ESTATE INVESTMENT TRUST UPDCREIT	CONSTRUCTION/REAL ESTATE	₦14.2000	+0.0000%	793,915	58.9605	0.4696	₦12.2360	₦9.1333
SKYWAY AVIATION HANDLING COMPANY PLC SKYAVN	SERVICES	₦171.2000	+0.0000%	1,518	77.3126	0.6414	₦169.3460	₦96.2517
ZENITH BANK PLC ZENITHBANK	FINANCIAL SERVICES	₦127.4000	+5.2900%	25,370,492	61.8343	0.6626	₦118.0660	₦98.6990
VITAFOAM NIG PLC. VITAFOAM	CONSUMER GOODS	₦194.0000	+0.0000%	885,025	54.5544	0.9042	₦191.7820	₦112.5220
ETERNA PLC. ETERNA	OIL AND GAS	₦35.8000	+0.7000%	3,251,244	61.5248	1.0685	₦31.8230	₦35.4177
NIGERIA REAL ESTATE INV. TRUST FUND NREIT	CONSTRUCTION/REAL ESTATE	₦113.0000	+0.0000%	5,895	64.1269	1.2357	₦108.6000	—
CORONATION INFRASTRUCTURE FUND CNIF	CONSTRUCTION/REAL ESTATE	₦154.3000	+0.0000%	1,260	100.0000	6.4828	₦131.5640	—
FIRST HOLDCO PLC FIRSTHOLDCO	FINANCIAL SERVICES	₦145.0000	-0.0300%	14,467,751	70.5100	8.6461	₦103.1650	₦61.9342
AIRTEL AFRICA PLC AIRTELAFRI	ICT	₦6300.0000	+0.0000%	2,351	99.3329	230.0141	₦5543.2120	₦2835.8710

Frequently Asked Questions

What should I do when an NGX stock shows a bearish MACD?

A bearish MACD crossover is a caution signal, not always a sell trigger. If you hold the stock, consider reviewing your stop-loss levels. If you are considering buying, wait for the MACD to turn bullish again or combine with other signals such as RSI oversold (< 30) to find contrarian entries.

More Technical Based Signals

RSI Oversold

NGX stocks with RSI below 30 — technically oversold and potentially due for a bounce.

RSI Overbought

NGX stocks with RSI above 70 — technically overbought, watch for potential pullbacks.

MACD Bullish

NGX stocks where MACD is above its signal line — bullish momentum signal.

Above 200-Day MA

NGX stocks trading above their 200-day moving average — long-term uptrend.

Below 200-Day MA

NGX stocks below their 200-day moving average — long-term downtrend warning.

Golden Cross

NGX stocks where the 50-day MA has crossed above the 200-day MA — strong bullish signal.

Death Cross

NGX stocks where the 50-day MA has fallen below the 200-day MA — long-term bearish signal.