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NAT. BANK NYR3QUTNAT. BANK NYR3QUTNAT. BANK NYR3QUT

NAT. BANK NYR3QUT

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NABPH trade ideas

Stock of the week: ASX:NABASX:NAB has rocked this week. Is this due to some unknown fundamentals or does Technical Analysis has an answer to this? Lets analyze. ASX:NAB has zoomed high this week And in terms of confluence we can say that other big 4 also zoomed high but for NAB i think the answer was hidden somewhere in the TA on the charts. After ASX:NAB broke the 50MA which is inherently bullish it jumped more than 10%. On the chart you can see that the stock price was above 25LSMA and the daily velocity is positive and RSI was neutral. The only concern i have is that weekly velocity is not positive yet but it will turn positive when the price goes above 18$ again. When it comes to opening a position, my plan was to buy when it went above the 23.6fib but I missed it out and now I am waiting for a retest of the same fib level then can think of opening a small position that will be scaled out when this stock closes above 0.382 fib. I will keep you posted if anything changes for this stock. Stay safe and DYOR.
ASX:NAB
by xtf_ze_trader
1
NAB - End of the lineNAB is still stuck in it's channel. This is what we know - bond rates continue to fall overseas and locally - RBA rate cuts continue, margins further squeezed - AUS house prices appreciate albeit low volumes (as a result, lower total transactions) - economy seems to be doing better So we're at a pinch point. nothing decisive in the macro. however, NAB's current position is that it maintains dividends. Also new CEO. There's 2 x good reasons for SH to accumulate the stock. I believe we'll test the top of the channel, re-test the recent low, and then break out LONG once re-approaching the channel. LONG to $28 within 6 months Saucy
ASX:NABLong
by saucy88
1