- National Westminster Bank is a major retail and commercial bank.
- The NWG stock is listed on the London Stock Exchange (LSE). This company was founded on 18th March 1968.
- We will interpret the stock price through technical analysis with the help of the data available.
The NWG stock was doing pretty well before 2006. The stock was in a continuous uptrend. It started its retracement in January 2006. It continued till January 2008.
After 2008, the stock has been in a sideways position. The recovery is nearly impossible due to a huge fall in the stock value.
The stock value is around £2.33. It is moving between the range of support level and resistance level.
Technical Analysis of the NWG Share (Yearly)
The stock is trading in the range and it may remain in that range for a long time.
By analyzing the chart we can conclude that the stock may continue the same movement. This share is taking different supports from the support level. However, it is not able to break its resistance level.
Technical Analysis of the NWG Stock (Monthly)
As we can see, the stock previously was in an uptrend, but it could not continue its uptrend. It started its downward journey in 2007, which continued till 2009. Soon after that, it became sideways.
The investment is highly risky and dangerous in the NWG stock. People often say that “the more the risk, the more the returns”. Here, the risk is more, and the return is less.
Technical Analysis of the NWG Stock (Weekly)
In the weekly time frame, the stock is in an upward direction. That’s a good sign for the stock.
In all other time frames, the NWG share is either in a downward direction or in a sideways position. The weekly time frame can be used by swing traders to generate good returns.
The weekly uptrend line is allowing trading in the upcoming trading sessions.
Technical Analysis of the NWG Stock (Daily)
In the daily time frame, the stock is in a sideways position. It is neither breaking the support level nor the resistance level.
The stock near the current market price is in a downward direction. It means the NWG stock might take another support point from the support level. You should wait until it gives a breakout.
The investment is not suitable in any time frame, whether it is yearly, monthly, or weekly. Investors should give priority to growing companies.
The NWG stock is in a downtrend. It might not give a huge return because it is trading in a range between the support and resistance. It cannot generate good returns.
If the stock can break its range in the weekly time frame, it is good for short-term investments.
- Resistance Level: £2.76 and 2.08
- Support Level: £1.97 and £1.95
The analysis is done for providing information through technical analysis and no investment suggestions are given in the article to be made by investors.