NatWest share price rally has momentum
They've more then doubled in just over a year, but independent analyst Alistair Strang's charts say the high street bank's share price is capable of further strength.
2nd December 2024 07:16
by Alistair Strang from Trends and Targets
Searching for optimism against NatWest Group (LSE:NWG) has become a little less difficult recently, the share price finally managing to close above our 397p trigger level, which implies everyone can be positive about future share price movements. Usual caveats apply that you should never trust a retail bank's share price.
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However, it certainly appears NatWest may actually find its way into the future. Currently, above 405p should trigger share price gains to an entirely believable 450p, a nice and tidy 10%+ gain which should challenge the highs from 2014.
As a result, the visuals indicate a potential for some hesitation, but above 450p, we can calculate an eventual 542p as very possible some time in the future.Â
Should NatWest decide to immolate itself on the chart of dreams, their share price currently needs below 357p to introduce real panic. Such a triggering event calculates as capable of pushing reversal to an initial 305p with out secondary, if broken, a very probable bottom at 240p.
For now, we think gains on NatWest may be more probable.
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.Â
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