Nab - national aust. Bank

[Ghostwriter]

Re: Time to Buy

NAB will bounce from its current price, March 12 is the turn date.

 

[Reasonable]

Re: Time to Buy

NAB will bounce from its current price, March 12 is the turn date.

Talk to me?

 

[Frodo]

[B]           Company          [/B][B]Market[/B][B]      Sector[/B]   [B]
Current[/B]        3.3           2.5          3.0

1. Strong buy 1
2. Moderate buy 2
3. Hold 9
4. Moderate sell 3
5. Strong sell 3

Today

[FONT=Arial,Helvetica][SIZE=-1]National Australia Bank (NAB) is down 3.45pct or 58cents to $16.22. NAB has hit a 12 year low ahead of NAB’s CEO Cameron Clyne’s strategy briefing on Thursday (March 12)[/SIZE][/FONT]

 

[Ghostwriter]

Hey I got the bounce bit wrong, looking at the chart, means it has broken resistance at 16 dollars so who knows where to now, could go as low as 10 and in the current market it could quite easily.

Edit, sorry I got the 16 dollar resistance bit wrong, but my point still stands, as more bad news comes and it will, this one could go as low as 10, btw I don't hold, I was looking to buy WBC, and I've been watching both, but NAB is really starting to slide.

 

[morgoth]

NAB is caught up in the UK hysteria over banking. 14% of their revenue comes from this market at a time when it is in crisis and facing deflation. Throw in the US bank they brough on near 20 times earnings, the fact they are always the bank in trouble when something goes wrong (still the only Oz bank that has had direct sub prime exposure) and you can see why they are currently the leased prefered.

Until the UK stabilises they will struggle as the market will avoid percieved risk.

 

[Kram]

Funny after all that it's back near the GFC lows again.