ETRANZACT Setup for Elliot wave impulse - EW Nation

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eTranzact International PLC’s P/E ratio of 18.4x is higher than the Nigerian market average of 6.8x but aligns with fintech peers, suggesting a fair valuation with growth potential priced in.

ETRANZACT Setup for Elliot wave impulse

Updated: 5/29/2025 10:45 PM

eTranzact International PLC’s P/E ratio of 18.4x is higher than the Nigerian market average of 6.8x but aligns with fintech peers, suggesting a fair valuation with growth potential priced in. Its robust revenue growth (₦29.8 billion in 2024), innovative products, SME focus, and global expansion plans make it a compelling investment in Nigeria’s burgeoning fintech sector.

From the chart above, the move from the top in Q4 2023 has unfolded in a 3 waves highly suggesting a wave 2 structure. Conversely, the move from the ₦4.57 low is a wave 1 of a smaller degree, this move means that the bull have come in and will sustain the move upwards. With the wave 2 of a smaller degree printed following the a-b-c correction, our focus is now to the upside for the completion of the wave 1 of a larger degree.

If this count is correct, target for the completion of this wave is ₦11.5.

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