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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chart suggesting $26-40 support?, page-9
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Last
$37.38 |
Change
0.130(0.35%) |
Mkt cap ! $115.6B |
Open | High | Low | Value | Volume |
$37.50 | $37.68 | $37.34 | $122.9M | 3.283M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 4933 | $37.37 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$37.39 | 15863 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 483 | 37.350 |
5 | 8608 | 37.300 |
2 | 590 | 37.290 |
2 | 7526 | 37.280 |
1 | 10 | 37.270 |
Price($) | Vol. | No. |
---|---|---|
37.390 | 15863 | 3 |
37.430 | 670 | 1 |
37.440 | 8526 | 2 |
37.450 | 5773 | 3 |
37.460 | 8116 | 3 |
Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
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