There are virtually no shorts on NAB (0.68%), which means the shorts have been correct in not thinking the RC was going to be hugely negative to the bank.
My expectation is that the bottom is in and we will see green tomorrow and over the next few months. Any fines, paybacks etc that need to be allowed for from the RC findings will be a pittance compared to the profitability of the bank (pre-tax over $9BILLION ).
I was planning on buying some more today before the close, hopefully at the day's lows towards $23, but it didn't happen. It looks to me like a lot of people jumped in early.
IMHO if we can get $24 tomorrow it will end up being a steal!!
News: NAB UPDATE 1-D-Day for Australian banks as govt to release inquiry report, page-7
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Last
$39.09 |
Change
-0.510(1.29%) |
Mkt cap ! $121.6B | |||
| Open | High | Low | Value | Volume |
| $39.28 | $39.36 | $39.06 | $27.69M | 706.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5 | $39.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.09 | 835 | 7 |
View Market Depth
| Last trade - 12.40pm 04/12/2024 (20 minute delay) ? |
| NAB (ASX) Chart |
