NAB 0.15% $26.79 national australia bank limited

h & s

  1. 280 Posts.
    Todays Price action points to some potentially very negative movements.

    A head and shoulders pattern developing over the last 5 months, has been broken. LS 7/4 H 17/6 RS 11/8, these are the key dates for the highs. Todays price move has broken the neckline and co-incidently closed below the 200 day M.A. which is a key indicator for fund managers. O.B.V has fallen to the lowest level in almost two years. A price close below the lower bollinger band with increased volume and volatility also confirms softer prices ahead.

    If the break is true, then a price target of $29 should be achievable which is also a long term support area.
    Notably $31 is also another area of support that needs to be overcome first. I will be shorting on Wednesday with a stop close above 200 day M. A.

    If anyone wants to tell/show me how to paste charts on HC then those who don't know what I'm talking about might get a better Idea.

    Just my Ideas, do your own work, and trade smart.

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