The Hourly View for NWG
At the moment, NWG (Get Ratings)’s price is down $-0.02 (-0.35%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Out of Banking stocks, NWG ranks 142nd in regards to today’s price percentage change.
NWG’s Technical Outlook on the Daily Chart
At the time of this writing, NWG’s price is up $0.13 (2.33%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as NWG has now gone up 8 of the past 10 days. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows NWG’s price action over the past 90 days.
NWG: Daily RSI Analysis
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