#DAX #JAPAN News that RBS are ditching their “toxic” name outside Scotland, rebranding as NatWest, really isn’t a surprise. Generally, when a large organisation is in trouble, they’ll consolidate shares, mess with their advertising, fuss with their logo, or as a last ditch throw of the dice, change their name.
At time of writing, RBS is trading at 206p ( that’s 20.6p in pre-consolidation terms ) and it certainly looks clear the market failed to fall for their wizard wheeze of a 10:1 share ploy to make the value of RBS shares sound more respectable. To be fair, RBS are not the only retail bank with a lousy share price history. Lloyds for instance enjoyed a low of 34 in 2009 and is now trading at 55.78. Barclays hit 53p in 2009 and now, eleven years later, is trading at 176.
In fact, RBS with their low of 9.8p is doing slightly better than Lloyds, presently more than double their price when the sector crashed. But in comparison to most other shares in the FTSE 100, banking sector shares are about as popular as Laura Ashley.
The immediate situation for RBS is a bit fragrant with weakness next below 205 indicating the potential of travel down to 189p next. If broken, secondary calculates at 171p and we’d expect a rebound from such a level. The share price will require to close below 171p to justify running for the hills as it will take RBS into a region where “bottom” works out at 114p. We cannot calculate below such a point.
The funny thing, despite the share breaking below our last drop target of 208p, we shall be a little curious in the days ahead. The price only need exceed 217p to enter a cycle toward 227p next. If bettered, secondary is 237 but realistically, if positive news or market conditions are behind a rise, the price could easily accelerate to 252p.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:04:13PM |
BRENT |
58.98 |
Success | ||||||||
10:07:05PM |
GOLD |
1612.32 |
Success | ||||||||
10:10:28PM |
FTSE |
7458.81 |
Success | ||||||||
10:11:53PM |
FRANCE |
6101.2 |
‘cess | ||||||||
10:30:33PM |
GERMANY |
13780 |
13708 |
13675 |
13637 |
13758 |
13789 |
13801.75 |
13823 |
13743 |
‘cess |
10:33:18PM |
US500 |
3388.52 |
‘cess | ||||||||
10:35:07PM |
DOW |
29358 | |||||||||
10:37:33PM |
NASDAQ |
9725 |
Success | ||||||||
10:39:44PM |
JAPAN |
23592 |
23341 |
23191 |
23029 |
23432 |
23682 |
23747.5 |
23967 |
23510 |
Success |
One Reply to “Royal Bank of Scotland for 20/02/2020”