Technicals | Nov 20 2013
This story features NATIONAL AUSTRALIA BANK LIMITED. For more info SHARE ANALYSIS: NAB
By Nick Linton-Ffrost
Pivot Point, National Australia Bank ((NAB))
Trading tactics
Short a move below 34.00 using a 34.50 stop and a 32.80 target.
Otherwise buy a break above 34.50 looking for a move to 36.00 placing stops at 34.00.
Rationale
Our bearish view is based on a simple five count assumption. The last few days trading around between 33.80 and 34.50 appears to have formed a fourth wave just under the trend line implying a move lower 32.80.
Our view is negated and turns into a buy with a break above 34.50.
Another trading idea from
Fifth Wave | fwtc.com.au
FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience.
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