Will NatWest Trump the market?
At first glance, it would appear the US election has very little to do with the UK banking sector, but independent analyst Alistair Strang has noticed this high street lender's share price doing something useful.
21st October 2024 07:20
by Alistair Strang from Trends and Targets
Market analysts are writing knowledgably about the price of gold rising, somehow due the the potential of Mr Trump pulling on a “boss” hat on 6 November, such an accomplishment ‘obviously’ driving the price of gold upward. Additionally, cryptocurrency is gaining in strength.
For gold, we can toss out an immediate thought, and that’s a difficulty in calculating very far above an ambition of $2,770 per ounce. With the stuff currently around $2,724, it’s certainly not go far to go but should our top ambition make an appearance, we suspect some volatility shall become almost essential.
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Another aspect of life supposed to improve with a Trump victory are banking shares, something which is speculated to echo a future vibrant economy from the USA. While it’s unlikely such optimism has bled across the ocean to the UK, as we forecast three weeks ago, NatWest Group (LSE:NWG)'s share price has started doing something useful.
Their share price has broken above the critical 355p level and now luxuriates in a region where a lift to an initial 372p now calculates as possible with our secondary, if exceeded, at 394p.
In fact, it is now the case where we can project a distant looking 474p as exerting an influence from a distant future on this share price!
Should things intend to go horribly wrong for this bank's share price, it requires to close a session below just 344p to throw all our clever calculations up in the air.
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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