Planet Wealth - Australian Stock Market Education » NAB Momentum http://planetwealthblog.com.au We are a stockmarket investment company that educates people on the strategies we use to create both income and capital growth. Fri, 23 Dec 2011 00:20:36 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 NAB Momentum http://planetwealthblog.com.au/nab-momentum/ http://planetwealthblog.com.au/nab-momentum/#comments Tue, 28 Oct 2008 13:34:55 +0000 Planet Wealth http://planetwealthblog.com.au/?p=134
NAB Momentum

NAB, over the last month has been gaining a positive momentum.

Since December last year the stock has had a down trend line that is well respected. The $26.00 mark has also been respected of late, but is also a strong weekly resistance line that is evident from as far back as 1999. These two lines have been holding NAB down, but the Higher troughs (HT) have been pushing the stock up against the $26.00 resistance resulting in an Ascending Triangle (AT) formation.

This week is like to see a win of tug-a-wars between the buyers and sellers. Will the 12 month down trend prevail or will the ascending triangle show greater strength?

(click on image to enlarge)
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