National Australia Bank Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
National Australia Bank Limited stock price ended at $34.46 on Monday, after gaining 1.62%.
(Updated on Jun 03, 2024)
The National Australia Bank Limited stock price gained 1.62% on the last trading day (Monday, 3rd Jun 2024), rising from $33.91 to $34.46. During the last trading day the stock fluctuated 1.35% from a day low at $34.00 to a day high of $34.46. The price has been going up and down for this period, and there has been a -0.78% loss for the last 2 weeks. Volume fell on the last day by -3 million shares and in total, 4 million shares were bought and sold for approximately $131.38 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $34.77 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect National Australia Bank Limited stock with a 90% probability to be traded between $32.85 and $34.62 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NAB.AX Signals & Forecast
The National Australia Bank Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $34.01 and $33.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.53%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, December 01, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, December 01, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A sell signal from a double top formation was found on Wednesday, May 22, 2024 and based on theory for this formation the price should fall by -3.11% to $33.39 within 12 trading days since signal was issued (Tuesday, June 04, 2024).
Support, Risk & Stop-loss for National Australia Bank Limited stock
National Australia Bank Limited finds support from accumulated volume at $34.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.460 between high and low, or 1.35%. For the last week the stock has had daily average volatility of 1.12%.
Our recommended stop-loss: $32.82 (-4.77%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (NAB.AX) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect National Australia Bank Limited to open at $34.31, and during the day (based on 14 day Average True Range), to move between $33.97 and $34.95, which gives a possible trading interval of +/-$0.495 (+/-1.44%) up or down from last closing price. If National Australia Bank Limited takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $34.56 (0.29%) than the support at $34.14 (0.93%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is National Australia Bank Limited stock A Buy?
National Australia Bank Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.793 Hold/Accumulate Unchanged
Predicted Opening Price for National Australia Bank Limited of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| $34.31 ( 0.445%) | $34.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAB.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.77 | 0.89 % | |
| R2 | 34.59 | 0.380 % | ||
| R1 | 34.48 | 0.0650 % | ||
| Current price: | 34.46 | |||
| Support | S1 | 34.13 | -0.95 % | |
| S2 | 34.02 | -1.27 % | ||
| S3 | 33.85 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.78 | 0.93 % | |
| R2 | 34.76 | 0.87 % | ||
| R1 | 34.56 | 0.290 % | ||
| Current price | 34.46 | |||
| Support | S1 | 34.14 | -0.93% | |
| S2 | 33.91 | -1.60% | ||
| S3 | 33.81 | -1.89% |
NAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | Jul 03, 2024 | $0.84 | 2.44% |
| 2 | Nov 14, 2023 | Nov 14, 2023 | Nov 14, 2023 | $0.84 | 3.00% |
| 3 | May 10, 2023 | May 10, 2023 | May 10, 2023 | $0.83 | 3.16% |
| 4 | Nov 15, 2022 | Nov 15, 2022 | Nov 15, 2022 | $0.780 | 2.56% |
| 5 | May 11, 2022 | May 11, 2022 | May 11, 2022 | $0.730 | 2.39% |
FAQ
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