NatWest shares do something useful, but what now?
Its shares are up 20% since last month's annual results, which followed a prediction by independent analyst Alistair Strang that the high street bank was about to 'become useful'. Here's his update.
4th March 2024 07:41
by Alistair Strang from Trends and Targets
Share on
Three weeks ago, we finished our report with the words: "Our suspicion is we’re about to see NatWest become useful." Almost unbelievably, this has become the case.
It certainly does look like NatWest Group (LSE:NWG) is indeed becoming useful. Their share price has miraculously regained the Red uptrend since 2020, bettering the Blue downtrend since 2007.
- Invest with ii: Open a Stocks & Shares ISA | ISA Investment Ideas | Transfer a Stocks & Shares ISA
It also it hovering at almost exactly the share value prior to the pandemic hitting. The situation now suggests movement next above 247.5p should attempt a run up to 263.5p next and visually, some potential hesitation. Our longer-term secondary, if such a level is exceeded, now works out at a future 294p.
NatWest's share price now needs to close below Red, currently 234p, to justify panic, but for now it’s looking interesting.
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.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.