Since 2017, watching Governments come and go in the UK, along with uncountable senior politicians jobs, has been substantially more interesting than watching share prices amongst the retail banks. Thankfully, there are signs this is changing as the banking sector appears to be waking up. Fortunately, comedy relief amongst politicians remains as vibrant as ever with Scotlands Nicola Sturgeon doubtless counting her lucky stars, political events at the Downing St trough, London, eased the spotlight off her, for now.
The Big Three retail banks hopefully prove more capable of keeping their hands cleaner than politicians as all continue to look poised for some reasonable price recovery. With Natwest, the next hurdle appears to be a demand the share price CLOSE a session above 328p, above the high which started the immediate downtrend and taking the share price into a zone where upward movement shall prove difficult to resist.
Of course, the path isn’t going to be all wine and roses, especially as Natwest still has to enact a panic reversal. For some reason, many shares feel the need to reverse once they’ve broken through a major downtrend such as Natwest exhibit and as a result, we’ll not be surprised if the share price doesn’t reverse to around 280p anytime soon. The reason is liable to be simple, a bunch of folk exerting selling pressure as they reclaim funds which have been tied up since 2017. It’s only fair to anticipate such a panic movement happening as the share price approached the previous highs from 5 years ago in January 2018. In this instance, as long as any reversal doesn’t close below 280p, our confidence in the bank share price shall remain uncommonly high.
For Natwest, our current calculations suggest movement next above 310p should make an attempt at 316p next with our longer term secondary, if this initial target is exceeded, working out at 339p. This, hopefully, should provide sufficient strength to allow closure above 328p, painting a picture of a new higher high, and allowing us to cough politely and start mentioning a distant 471p as possible for those traders with greater reserves of patience than most politicians have jobs.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop|
27/01/2023 FTSE Closed at 7765 points. Change of 0.05%. Total value traded through LSE was: £ 4,922,369,454 a change of -13.06%
26/01/2023 FTSE Closed at 7761 points. Change of 0.22%. Total value traded through LSE was: £ 5,661,516,595 a change of 15%
25/01/2023 FTSE Closed at 7744 points. Change of -0.17%. Total value traded through LSE was: £ 4,923,070,732 a change of -10.83%
24/01/2023 FTSE Closed at 7757 points. Change of -0.09%. Total value traded through LSE was: £ 5,520,852,512 a change of 27.06%
23/01/2023 FTSE Closed at 7764 points. Change of -0.08%. Total value traded through LSE was: £ 4,345,074,257 a change of -16.34%
20/01/2023 FTSE Closed at 7770 points. Change of 0.3%. Total value traded through LSE was: £ 5,193,532,558 a change of -8.71%
19/01/2023 FTSE Closed at 7747 points. Change of -1.06%. Total value traded through LSE was: £ 5,688,982,543 a change of 12.09%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at firstname.lastname@example.org. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:ASC Asos** **LSE:BP. BP PLC** **LSE:DGE Diageo** **LSE:EMG MAN** **LSE:ITV ITV** **LSE:MMAG Music Magpie** **LSE:NWG Natwest** **LSE:POLY Polymetal** **LSE:SBRY Sainsbury** **LSE:TERN Tern Plc** **
Updated charts published on : Asos, BP PLC, Diageo, MAN, ITV, Music Magpie, Natwest, Polymetal, Sainsbury, Tern Plc,
LSE:ASC Asos. Close Mid-Price: 810.5 Percentage Change: + 1.31% Day High: 818 Day Low: 794.5
Target met. Further movement against Asos ABOVE 818 should improve accele ……..
View Previous Asos & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 489.3 Percentage Change: + 1.05% Day High: 496.6 Day Low: 486.85
Target met. Continued trades against BP. with a mid-price ABOVE 496.6 sho ……..
View Previous BP PLC & Big Picture ***
LSE:DGE Diageo Close Mid-Price: 3422 Percentage Change: -1.44% Day High: 3472.5 Day Low: 3363
Weakness on Diageo below 3363 will invariably lead to 3353 with secondary ……..
View Previous Diageo & Big Picture ***
LSE:EMG MAN. Close Mid-Price: 251.9 Percentage Change: + 1.41% Day High: 251.6 Day Low: 247.8
Continued trades against EMG with a mid-price ABOVE 251.6 should improve ……..
View Previous MAN & Big Picture ***
LSE:ITV ITV. Close Mid-Price: 82.94 Percentage Change: + 1.62% Day High: 83.16 Day Low: 81.7
Further movement against ITV ABOVE 83.16 should improve acceleration towa ……..
View Previous ITV & Big Picture ***
LSE:MMAG Music Magpie. Close Mid-Price: 42 Percentage Change: + 7.69% Day High: 43.5 Day Low: 39
Continued trades against MMAG with a mid-price ABOVE 43.5 should improve ……..
View Previous Music Magpie & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 308.5 Percentage Change: + 1.18% Day High: 309.2 Day Low: 305
Target met. All Natwest needs are mid-price trades ABOVE 309.2 to improve ……..
View Previous Natwest & Big Picture ***
LSE:POLY Polymetal. Close Mid-Price: 228 Percentage Change: + 3.64% Day High: 230 Day Low: 195
In the event Polymetal experiences weakness below 195 it calculates with ……..
View Previous Polymetal & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 252.5 Percentage Change: + 5.47% Day High: 254.9 Day Low: 247.6
Further movement against Sainsbury ABOVE 254.9 should improve acceleratio ……..
View Previous Sainsbury & Big Picture ***
LSE:TERN Tern Plc Close Mid-Price: 7.54 Percentage Change: -5.75% Day High: 8 Day Low: 7.25
Weakness on Tern Plc below 7.25 will invariably lead to 7 with secondary, ……..
View Previous Tern Plc & Big Picture ***
*** End of “Updated Today” comments on shares.
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