Banking Stocks

NAB – Turning Bullish?

Thursday, July 2nd, 2009

Alot of stocks with in the financial sector have broken higher in recent weeks. Nab ha remained in a trading range of $20.00 to $22.00 since the beginning of March.
A stock cannot stay in a trading range permanently. Usually the longer the stock stays in the trading range the stronger the breakout. NAB has not [...]

Harvey Normal Turning Bullish?

Monday, June 8th, 2009

 
HVN (Harvey Norman) is looking stronger in the weekly chart, with indications the Bulls are back in control.
After breaking free of the down trend channel that has been valid for 12 months, not only was the first Higher Peak (HP) formed but this week’s closing bar was a confirmation of a Higher Trough (HT). This [...]

ANZ Finding Support?

Tuesday, June 2nd, 2009

ANZ this week has shown confirmation that the buyers have taken control after  18months of the bears dominating.
For 18 months ANZ has been in a strong down trend channel. In March this channel was breached and ANZ ran to the next resistance at $17.50. From there the stock retraced 50% to the [...]