NAB 6.32% $15.12 national australia bank limited

chart observations

  1. 6 Posts.
    My first post......

    I haven't figured how to copy charts as yet but for those who are interested, the NAB over the last few years has hit important lows every 18 months, in March 00, Sep 01 and now in March 03. On a log chart these 3 points create a strong uptrend support line which deserves respect.

    On the other hand, since Sept 02, NAB has been trending strongly downwards creating a resistance line which has also been respected on numerous occasions.

    Within a few months these lines will meet and I suspect lower prices will eventuate. In the meantime the uptrend seen over the last few days could continue up to $31 or just under where it meets the above mentioned resistance.

    Does this make sense to others, or am I seeing too much with all these lines all over the place.....

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