NEIMETH Neimeth International Pharmaceuticals PLCNSENG:NEIMETHsimismohsThis is a bullish recovery candidate, but not yet a confirmed breakout. Price is sitting at ₦8.55, around the 61.8% retracement area, after a prolonged correction from roughly ₦14.85. Key levels LevelPriceRole Current₦8.55Accumulation area 61.8% Fib₦8.80Immediate resistance/pivot 78.6% Fib₦7.25Major support 50% Fib₦9.95First major confirmation 38.2% Fib₦11.05Secondary resistance Previous high₦14.85Major structural target Fib extension₦17.15Expansion target Structure The major move from around ₦5.25 → ₦14.85 has undergone a deep correction. What's notable is that despite several attempts lower, price has repeatedly found demand around roughly ₦7.80–₦8.30. That suggests the selling pressure is becoming less effective. But there's still an important issue: the descending trendline hasn't been decisively broken. So I'd classify the present structure as: Deep correction → potential base formation → awaiting bullish confirmation. The first thing I want to see is a clean recovery through ₦8.80, followed by ₦9.95. ₦9.95 is particularly important A sustained break above ₦9.95 would do considerably more for the setup than simply bouncing from ₦8. It would mean price has: reclaimed the 50% retracement + broken back into the upper half of the range + likely cleared the descending structure. Then the progression becomes: ₦9.95 → ₦11.05 → ₦14.85 Above ₦14.85, the previous correction becomes much less relevant because NEIMETH would be making a significant structural breakout. That exposes your ₦17.10–₦17.15 extension. Signal-style map NEIMETH Current: ₦8.55 Accumulation region: ₦7.25–₦8.80 TP1: ₦9.95 TP2: ₦11.05 TP3: ₦14.85 Extended TP: ₦17.15 From ₦8.55, that's approximately +16.4%, +29.2%, +73.7%, and +100.6%, respectively. Risk level ₦7.25 is the important line in the sand. A brief wick beneath it isn't necessarily fatal, but sustained acceptance below ₦7.25 would weaken the accumulation thesis substantially and increase the possibility of retracing toward the ₦5.25 origin. Verdict Bias: 🟢 Bullish Watch / Potential Re-Accumulation I'd rate this below FTN Cocoa at this exact moment because NEIMETH still has more overhead structure to clear. However, if NEIMETH breaks ₦9.95–₦10.00 convincingly, the setup becomes significantly stronger. At that point, ₦11.05 becomes the next hurdle, and a return to ₦14.85 becomes technically credible. Your ₦17.10 target is therefore reasonable as an extension target — but it should come after a confirmed ₦14.85 breakout, rather than being treated as the immediate target from ₦8.55.