NatWest shares tick important box
After doubling in value over the past 12 months, could this high street lender be fuelled for further growth? Independent analyst Alistair Strang tells us what the charts say.
3rd February 2025 07:39
by Alistair Strang from Trends and Targets
In the  three weeks since we previously reviewed NatWest Group (LSE:NWG), the company brought, quite pleasantly, a series of pretty exact movements to our target level of 434p. In fact, when the share price closed at 435p on the first surge to our target level, it ticked an important first box for longer-term growth.
Of course, this was only a "first box" by our own bespoke inhouse criteria, a series of arguments fuelling a balance of probabilities.
- Invest with ii: Open a Stocks & Shares ISA | ISA Investment Ideas | Transfer a Stocks & Shares ISA
Currently bumbling around our target level, we shall not be aghast if the share suffers an artificial relaxation, and an excuse to visit the 350p level shall make a lot of visual sense. Already an argument is developing for reversal to an initial 390p, with secondary, if broken, at 373p. Moves below 405p look to be capable of triggering such reversal.
However, Â on the positive side of the fence, above 437p could now easily trigger gains toward an initial 451p with our secondary, if beaten, at 486p and some hesitation. Overall, we shall regard the share price as dwelling in a zone where a longer term 695p has becomes possible.
Could we be witnessing the birth of a resurgence of the retail banks?
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
These articles are provided for information purposes only. Â Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. Â The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.