NAB Chart

I see people here talking about NAB going lower. This may be and $27's may be the final resting place but it wont go down in a straight line as it has been.

Looking at the chart and some of the indicators, I feel the move down has been too sharp and is currently oversold. A bounce is overdue and is coming in the next 1-2 days.

It might go lower in the next few weeks, but based on Thursday's (long tail doji) and Friday's candle (supported above 29.68), we are at the bottom now (for a bounce).

The banks did not respond to 2 consecutive green days in the US last week. The banks want to go up when US is flat or when US is down. And on Friday, we had a flat US.

The minimum bounce target: Very easily $30.40, then $30.70. Then around $31.00.

So, we are looking at around 5% from the low of $29.56 last week.

There is $1 in this baby right here. Buy Qty 10,000 and walk away with 10k in 3 days.

I'd buy it Monday morning on the weak open.

My opinion only by the way.