re: $26.40 -commy,alpha etal Commy, Alpha
Just like to say well done to those who picked $26-40 support for NAB. Only 2cents out for banking stock is pretty good I reckon.
I have been running off $20.00 as the base, and $36.78 as the high. $26-40 of course was 61.8%. It has been a soft landing, I don't really know what to draw from that. It certainly isn't good if one is long. This might well be the bottom, but options expiry may have played a significant part in the recent days' action.
So where does NAB go to if $26-40 is broken?
Lately I have been finding the 78.6% fib no. extremely useful. 78.6% is not used very often, I know, but it IS a 5th fibonnaci number - funny its not included in most charting packages!
Anyway, 78.6% of the above range (36-78 to 20-00)comes in at $23-70 which correlates fairly closely with
the $23-80 base Alpha was working off as 100% or a double bottom?? I couldn't bring up Alpha's chart earlier in the thread - so not exactly sure.
Further correlation - go back as far as '96 when NAB had its last full 61.8% retracement at $11-10 and use this as the base, with $36-78 as high. On the way down there is 50% fib at $23-85.
Too good to pass up these numbers. A break below $26-40 is a short - pure and simple...
Cheers,
Christian
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Last
$36.23 |
Change
0.200(0.56%) |
Mkt cap ! $112.2B |
Open | High | Low | Value | Volume |
$36.26 | $36.44 | $36.07 | $152.6M | 4.216M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3369 | $36.22 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$36.23 | 9815 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 276 | 36.150 |
1 | 700 | 36.140 |
2 | 42489 | 36.060 |
3 | 8409 | 36.050 |
1 | 9701 | 36.040 |
Price($) | Vol. | No. |
---|---|---|
36.250 | 118 | 1 |
36.260 | 23033 | 1 |
36.280 | 6854 | 2 |
36.300 | 10929 | 3 |
36.320 | 4627 | 1 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
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