Has game changed for NatWest share price?
After a great run since February, independent analyst Alistair Strang has another look at the high street lender to see if the shares have further to go.
29th May 2024 07:39
by Alistair Strang from Trends and Targets
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Despite the entertainment of a UK General Election, retail bank share prices continue to provide their own sideshow.
Thankfully, NatWest Group (LSE:NWG) has finally opted to close above 315p for a few trading sessions (ten in total) giving us fairly substantial hope the game has changed for the share price and, finally, the correct set of circumstances should witness some proper price movement.
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From our perspective, NatWest is finally trading in a zone where our ‘post-pandemic’ theory allows a future price target at an impressive 549p!
We’ve a surprising immediate scenario, where we can now propose closure once again above 315p should prove especially interesting, expecting a movement cycle to commence to an initial 350p with secondary, if bettered, at 381p.
If trouble lies ahead, closure below 292p will ring enormous alarm bells, presenting the potential of reversal to an initial 274p with our secondary, if broken, working out at 239p.
But for the longer term, thanks to it already closing above 315p, we’re hopeful the game has changed for the bank and the future only requiring oodles of patience.
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.
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