NAB Weekly Chart Analysis 06/05/2016.

An End of Week analysis of  NAB which I consider to be the strongest bank from within the major 4.

It is the only major bank  that is trading above it’s 40 period weekly SMA. This said, I still consider the price action behaviour of NAB range bound until a decisive breakout ( an upside breakout) which may be in the waiting.

Overbought it may be in the short term,  close above $30 would be the sign of a new BULL MARKET for NAB in my book.

Disclosure : NAB held.

nabweekly06052016

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