Are NatWest shares about to bounce?
Independent analyst Alistair Strang shares his view on possible next moves for the FTSE 100 bank.
23rd December 2024 09:09
by Alistair Strang from Trends and Targets
There's a serious risk NatWest Group (LSE:NWG)'s share price is about to bounce again.
From our perspective, the recent visit to 420 confirmed happy days were ahead and despite reversals to around 390p, we're not particularly concerned.
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Yes, there is a risk of below 391 bringing a trip down to 373p, but it really doesn't feel such a great threat. Share price reversals since 9 December had proved rather contrived, presenting a visual effect of the market “just” playing games. NatWest currently requires below 350p to induce panic!
More probably, if our suspicion of a bounce from current levels is justified, above just 398 should trigger recovery to an initial 402p with our secondary, if bettered, a rather more Christmassy 406p.
OK, neither are especially interesting, but the ruling attraction is being viewed as 415p and a chance of some hesitation, due to the share price matching prior highs.
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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