NatWest rally may have further to run
Already up 25% in 2024 so far, there are further encouraging signs at the high street lender after the shares closed above independent analyst Alistair Strang's initial target price.
15th April 2024 07:35
by Alistair Strang from Trends and Targets
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NatWest Group (LSE:NWG)'s share price recently visited 278p, the initial target from our analysis three weeks ago and it still looks dangerously encouraging and, judging by some big picture moves, things could be interesting.
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Optimism remains present due to the price managing to actually close (very slightly) above our 278p target level on four occasions. It’s now the case where above 281p calculates as capable of an initial 295p with our secondary, if bettered, now working out at a game changing 315p
Share price closure around the 315p level shall prove to be critical for the longer term due to Big Picture calculations entering the picture. To cut a long and boring story short, we shall be forced to regard a long-term 465p as exerting a magnetic attraction for the future.
If things intend to go wrong, below 237p shall be viewed as troublesome, suggesting coming reversal to 218p with our secondary, if broken, a hopeful bottom at 197p.
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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