NatWest shares are looking good
Shares are trading near prices not seen since the end of 2015, but can they keep going? Independent analyst Alistair Strang updates his analysis here.
8th July 2024 07:30
by Alistair Strang from Trends and Targets
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We anticipate the potential of further good times for retail bank NatWest Group (LSE:NWG).
From a chart perspective, something positive seems to be happening. In the three weeks since our previous report, NatWest has carefully avoided dipping below 300p with the share price remaining in positive territory.
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The situation now imparts considerable hope, with movement above 329p suggesting recovery to a significant 340p, a price level where some hesitation is expected.
Our secondary, should such a level be exceeded, calculates at a longer-term 382p, a pretty solid step on a path to a future 468p.
As always, we can toss a converse scenario into the mix with the share price needing to slip below 307p to potentially trigger reversals to 292p and a very hopeful rebound.
If broken, our secondary works out at 279p, once again dumping the share price into stodgy territory from which enthusiasm for recovery shall become muted.
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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