Natwest Group Plc (LSE:NWG) at around 312. Undying optimism(ish)

#Brent #Dax  Sometimes the market does thing we simply can neither understand nor justify. Natwest just pulled off one of these stunts as when we reviewed the share three weeks ago,  we suggested above 281p should next target 295p with secondary, if bettered, a ‘game changing’ 315p. These target levels are worthy of a few minutes examination, especially as the gremlins who influence price movements appear to be following the same sheet music as us.

To explain, the chart immediately below shows something interesting happening on April 26th. Natwest was gapped up to 296p when the market opened, obviously slightly above our immediate target level. In the period what has followed, the share price has trundled up to a high of 317.9p, slightly above our secondary target but on the day, it failed to close above 315p, so we’re not entirely convinced the game has yet changed.

But when we review what actually happened on Tuesday 7th, things get a little interesting as at 2pm Natwest exceeded our 315p, reached a new high by 2.40pm before forcing itself backward, once again below 315p yet at 3.30pm. it spitefully back-tested the 315p level before falling again. From our perspective, the worst thing we should now anticipate is for weakness below 310p promoting the idea of reversal to an initial 303.3 with our secondary, if broken, calculating down at 286.3p and hopefully a bounce capable of taking the share upward properly. But our demand it closes a session above 315p remains intact before booking any expensive holidays to Skegness.

There is another visual issue, one we’re not entirely sold on, and it’s the very real danger if the market wakes up one day, opting to Gap the share downward at the open by around 5p for whatever reason they find offends them the most. Any movement such as this risks dangerous consequences. While we shall need visit a new set of calculations, a Gap Down following a Gap Up usually ends in tears.


Of course, this is Natwest, a UK retail bank and therefore worthy of undying optimism and trust. But sarcasm aside, there is something important.

Theoretically, despite it not yet double underlining the word “optimism” by allowing the share to close a session above 315p, there is an argument we can now present where movement above 318p should target an initial 355p with our longer term secondary calculating at an amazing 379p in the longer term.




Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop
9:33:10PM BRENT 8306.4 8238 8104 7748 8385 8383 8445 8514 8300
9:35:02PM GOLD 2313.53 2318
9:42:03PM FTSE 8332.7 8306
9:44:42PM STOX50 5010.9 4998
9:47:22PM GERMANY 18444 18264 18165 18068 18346 18453 18462 18671 18420
9:50:22PM US500 5187 5175
9:57:45PM DOW 38878 38844
10:00:32PM NASDAQ 18089.2 18050
10:03:14PM JAPAN 38696 38785


7/05/2024 FTSE Closed at 8313 points. Change of 1.22%. Total value traded through LSE was: £ 6,519,396,072 a change of 33.86%
3/05/2024 FTSE Closed at 8213 points. Change of 0.5%. Total value traded through LSE was: £ 4,870,153,173 a change of -28.06%
2/05/2024 FTSE Closed at 8172 points. Change of 0.63%. Total value traded through LSE was: £ 6,770,072,758 a change of 87.96%
1/05/2024 FTSE Closed at 8121 points. Change of -0.28%. Total value traded through LSE was: £ 3,601,904,135 a change of -39.24%
30/04/2024 FTSE Closed at 8144 points. Change of -0.04%. Total value traded through LSE was: £ 5,927,984,853 a change of 22.51%
29/04/2024 FTSE Closed at 8147 points. Change of 0.1%. Total value traded through LSE was: £ 4,838,878,420 a change of -6.86%
26/04/2024 FTSE Closed at 8139 points. Change of -100%. Total value traded through LSE was: £ 5,195,337,438 a change of 0%

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

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 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:BARC Barclays** **LSE:ECO ECO (Atlantic) O & G** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:ITRK Intertek** **LSE:MMAG Music Magpie** **LSE:NWG Natwest** **LSE:TSCO Tesco** **LSE:ZOO Zoo Digital** **


Updated charts published on : Barclays, ECO (Atlantic) O & G, HSBC, British Airways, Intertek, Music Magpie, Natwest, Tesco, Zoo Digital,

LSE:BARC Barclays. Close Mid-Price: 210.35 Percentage Change: + 3.95% Day High: 210.65 Day Low: 204.1

Further movement against Barclays ABOVE 210.65 should improve acceleratio ……..

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LSE:ECO ECO (Atlantic) O & G. Close Mid-Price: 13.25 Percentage Change: + 7.29% Day High: 13.3 Day Low: 12.38

Further movement against ECO (Atlantic) O & G ABOVE 13.3 should improve a ……..

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LSE:HSBA HSBC. Close Mid-Price: 712.6 Percentage Change: + 1.01% Day High: 717.7 Day Low: 708.6

Target met. In the event of HSBC enjoying further trades beyond 717.7, th ……..

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LSE:IAG British Airways Close Mid-Price: 177.4 Percentage Change: -0.70% Day High: 184.5 Day Low: 173.9

All British Airways needs are mid-price trades ABOVE 184.5 to improve ac ……..

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LSE:ITRK Intertek. Close Mid-Price: 5010 Percentage Change: + 1.09% Day High: 5070 Day Low: 4974

In the event of Intertek enjoying further trades beyond 5070, the share s ……..

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LSE:MMAG Music Magpie Close Mid-Price: 5.75 Percentage Change: -11.54% Day High: 6.5 Day Low: 5.75

Weakness on Music Magpie below 5.75 will invariably lead to 5.5p with sec ……..

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LSE:NWG Natwest. Close Mid-Price: 312 Percentage Change: + 2.30% Day High: 317.9 Day Low: 307

Target met. In the event of Natwest enjoying further trades beyond 317.9, ……..

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LSE:TSCO Tesco. Close Mid-Price: 304.3 Percentage Change: + 2.01% Day High: 307.2 Day Low: 300.9

Target met. In the event of Tesco enjoying further trades beyond 307.2, t ……..

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View Previous Tesco & Big Picture ***

LSE:ZOO Zoo Digital Close Mid-Price: 54.5 Percentage Change: -2.68% Day High: 62 Day Low: 54.5

Target met. Continued trades against ZOO with a mid-price ABOVE 62 should ……..

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View Previous Zoo Digital & Big Picture ***

*** End of “Updated Today” comments on shares

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