Are gains coming for NatWest’s share price?
The stock could rise to 191p, but our columnist strikes a note of caution.
15th February 2021 08:34
by Alistair Strang from Trends and Targets
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The stock could rise to 191p, but our columnist strikes a note of caution.
NatWest & Moonpig
Unfortunately, with NatWest (LSE:NWG) we're feeling ineffective. But we suspect it's our old enemy, time, which is to blame.
When we reviewed it a few weeks ago, we presented a scenario where the price needed to better 172p to suggest some gains were coming. In four of the last five sessions NatWest has successfully closed above our trigger level, so we can confirm a belief some gains are expected.
Something quite peculiar is making itself known: a normally solid series of criteria all demanding the share price intends to head to 191p as the next major point of interest. The actual target level varies by a penny or so, either above or below.
What really surprises is our long-term secondary above 191p, calculating at 250p and presenting a visually sensible ambition. To be fair, traders would need to be challenged in the optical department if they chose to ignore the glass ceiling in waiting at such a level.
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NatWest’s share price would have to close a session below 163p to cancel this optimism, easing open the door for some dangers. Below 163p computers with the potential of reversal to an initial 155p with secondary, when broken, at 148p and a very probable bounce.
Source: Trends and Targets. Past performance is not a guide to future performance
With yet another St Valentine’s Day behind us we were fascinated to review the share price of Moonpig (LSE:MOON) in the hope of being able to say something intelligent for their future.
After nine trading days following their launch, we believe, quite firmly, investors will get more of a clue as to future movements from reading the pithy contents of greetings cards rather than from anything we say. We need a trading history to carry out analysis.
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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