NAB is still stuck in it's channel.
This is what we know
- bond rates continue to fall overseas and locally
- RBA rate cuts continue, margins further squeezed
- AUS house prices appreciate albeit low volumes (as a result, lower total transactions)
- economy seems to be doing better
So we're at a pinch point. nothing decisive in the macro.
however, NAB's current position is that it maintains dividends. Also new CEO.
There's 2 x good reasons for SH to accumulate the stock.
I believe we'll test the top of the channel, re-test the recent low, and then break out LONG once re-approaching the channel.
LONG to $28 within 6 months
Saucy
This is what we know
- bond rates continue to fall overseas and locally
- RBA rate cuts continue, margins further squeezed
- AUS house prices appreciate albeit low volumes (as a result, lower total transactions)
- economy seems to be doing better
So we're at a pinch point. nothing decisive in the macro.
however, NAB's current position is that it maintains dividends. Also new CEO.
There's 2 x good reasons for SH to accumulate the stock.
I believe we'll test the top of the channel, re-test the recent low, and then break out LONG once re-approaching the channel.
LONG to $28 within 6 months
Saucy