March 10, 2009
NAB Downtrend
By Planet Wealth
Since the beginning of the fall of the XAO in late 2007, many stocks have been back to lows not seen for quite some time.
Today NAB clearly broke through a weekly support level with a bounce off a downtrend channel top, with increased volume. The weekly chart show there is no significant support to hold the stock up, before $14.50. The last time NAB saw this low was 1997.
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Topics: Stock Charts, Technical Analysis, bear market, stock market, trading patterns | No Comments »
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