Interactive Investor

NatWest shares are looking good

Shares are trading near prices not seen since the end of 2015, but can they keep going? Independent analyst Alistair Strang updates his analysis here.

8th July 2024 07:30

by Alistair Strang from Trends and Targets

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NatWest sign 600

We anticipate the potential of further good times for retail bank NatWest Group (LSE:NWG).

From a chart perspective, something positive seems to be happening. In the three weeks since our previous report, NatWest has carefully avoided dipping below 300p with the share price remaining in positive territory.

The situation now imparts considerable hope, with movement above 329p suggesting recovery to a significant 340p, a price level where some hesitation is expected.

Our secondary, should such a level be exceeded, calculates at a longer-term 382p, a pretty solid step on a path to a future 468p.

As always, we can toss a converse scenario into the mix with the share price needing to slip below 307p to potentially trigger reversals to 292p and a very hopeful rebound.

If broken, our secondary works out at 279p, once again dumping the share price into stodgy territory from which enthusiasm for recovery shall become muted.


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. 

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  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.

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