Ultra (and others),
Was looking at the recent price action on NAB (since 25/6) and wonder on your opinion / interpretation. It looks to me as if NAB has completed a five wave movement down and could have completed today a 3 wave ABC up. Here are my thoughts....
W1 : $34.38 to $33.24 = $1.14
W2 : $33.24 to $34.11 = $0.87
W3 : $34.11 to $32.02 = $2.09
W4 : $32.02 to $32.87 = $0.85
W5 : $32.87 to $31.90 = $0.97
A : $31.90 to $32.75 = $0.85
B : $32.75 to $32.16 = $0.59
C : $32.16 to $33.08? = $0.92
The reasons I am leaning this way are are:
The certainly seems to be a 5 wave downward thrust;
What I have labelled as W3 looks like a W3 (ie very impulsive), and;
The movement off $31.90 looks corrective when looking at its structure and associated MACD / RSI.
Opinions and thoughts? I am wary of reading too much into this as it could also be viewed as a correction of the movement up from $31.05 and we are now entering another upward movement.
Regards,
Jaysee
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Last
$37.90 |
Change
0.490(1.31%) |
Mkt cap ! $117.1B |
Open | High | Low | Value | Volume |
$37.77 | $37.97 | $37.74 | $95.09M | 2.510M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 604 | $37.81 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$37.90 | 15076 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 604 | 37.810 |
1 | 16 | 37.800 |
2 | 102 | 37.790 |
1 | 15826 | 37.780 |
1 | 3671 | 37.760 |
Price($) | Vol. | No. |
---|---|---|
37.900 | 15076 | 2 |
37.920 | 5000 | 1 |
37.940 | 2500 | 1 |
37.950 | 8078 | 5 |
37.960 | 22140 | 4 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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NAB (ASX) Chart |