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NAB - National Australia Bank

Discussion in 'Stocks I-P' started by JetDollars, Jul 16, 2004.

  1. JetDollars

    JetDollars

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    All,

    What's up with the NAB yesterday? After the CEO announement................

    Where NAB go from here?

    Your comments, please?
     
  2. Joe Blow

    Joe Blow Administrator Staff Member

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    Re: NAB?

    Seems to be finding some support at $28.50 today.

    I wonder how much lower it will go.
     
  3. Baloo

    Baloo

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    Re: NAB?

    They paid me a fully franked dividend that yielded 6% yesterday.

    I'm not really concerned about the stocks price if they keep paying those sorts of dividends.
     
  4. Joe Blow

    Joe Blow Administrator Staff Member

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    Re: NAB?

    I suspect we're going to see NAB under $28 next week. The dive this week as been steep and on heavy volume so I can't see it bouncing back for a little while yet.

    I think a lot of people are going to be looking for better returns elsewhere, although I think that NAB is good value at under $28. I think we're probably going to see NAB trade sideways for a while before it gets any real upward momentum.
     
  5. JetDollars

    JetDollars

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    Re: NAB?

    I just read the newspaper and there are several financial analysis believe that NAB will be heading south toward $26. But that's newspaper analysis view point.....Maybe a hold off from NAB for a while would be a good idea.

    I sold NAB yesterday in my ASX Game....looking for opportunity else where.
     
  6. Joe Blow

    Joe Blow Administrator Staff Member

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    Re: NAB?

    NAB is continuing it's plunge this morning. It's 10 minutes after the open and NAB is off almost 1% at $28.08.

    This one is definitely going much lower.
     
  7. stefan

    stefan

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    Re: NAB?

    In my view, NAB should go down a lot more from $28. Still holding it today, but I'm not very optimistic. Once this baby drops another $1, we may see some heavy buying activity. May be well worth a bit of a gamble but I thing it's just a bit too early at these levels.

    We shall see... Certainly a solid banking stock but it was a bit over priced and every bit of bad news will take it down further while it takes a lot of good news to move it back up into the very high 20s.
     
  8. JetDollars

    JetDollars

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    Re: NAB?

    yes I can see that NAB is heading down south again. If it close below $28.00 then my guess would be continue heading down south toward $27.00 or maybe lower.

    It's quite interesting to watch this stock direction.
     
  9. Joe Blow

    Joe Blow Administrator Staff Member

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    Re: NAB?

    NAB is being pummelled again this morning. Down 1.5% to $27.58.

    Where will it find support?

    I'm predicting it will bounce back a bit before it hits $27, probably when instos with a long term view come in and snap up the stock.
     
  10. stefan

    stefan

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    Re: NAB?

    If the market takes another dive tomorrow, NAB could finally drop to $27. I'd see it more in the 25-26 area before it finds a bottom, only based on the lack of good news and the fact that it was overpriced for a long time. Interesting to watch. It would appear that investors are scared that more bad news are burried under all this mess.
     
  11. JetDollars

    JetDollars

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    Re: NAB?

    NAB close at $27.48. Look like NAB keep going down until $27.00 and hopefully bounce back.
     
  12. SuperTed

    SuperTed

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    Re: NAB?

    NAB has normally bounced off its yeild rate, with that support level around 28.50

    The problem now is that yeild was suppossed to hold it up, because Stewart guarenteed the dividend.

    The key to Stewart guarantee's is that he didnt stipulate it to carry passed the next dividend date (so the great yeild may not be there after Novembers payout).

    I have based that NAB will fall around 15% based on Stewarts earnings comment (10-15% down). So around 26.50 should be bottom.

    The sale of Irish bank may cause a kick in share price (and NABS bottom line) but until the Aussie side is fixed then it has to stay down. Kinda similar to AMPs ecept NAB cant sell itself and move to Ireland ;D ;D

    At the end of the day its been a fundamental issue that has caused the fall so IMO using technical indicators is like most analysts guessing ;-)

    Well that was a long one for my first post ;-)
     
  13. JetDollars

    JetDollars

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    Re: NAB?

    Well NAB has bounce back today, it's quite interesting to see where NAB will close today....keep watching.
     
  14. GreatPig

    GreatPig Pigs In Space

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    SMH News Article

    A relevant SMH article:

    http://smh.com.au/articles/2004/07/21/1090089201421.html

    "Investment houses shun bank stocks
    July 21, 2004 - 1:39PM

    Investment houses are putting the red pencil through banking stocks as the reverberations of last week's National Australia Bank profit downgrade continue to be felt."

    GP
     
  15. stefan

    stefan

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    Re: NAB?

    Finally testing $27. That's going to be a very interesting day.
     
  16. Joe Blow

    Joe Blow Administrator Staff Member

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    Re: NAB?

    It really is flirting with that $27 level at the moment isn't it... will it finish above or below it I wonder?

    I'm betting below.
     
  17. profithunter

    profithunter

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    Re: NAB?

    Me too

    I'm hoping for a big friday arvo sell off. ;)
     
  18. Joe Blow

    Joe Blow Administrator Staff Member

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    Re: NAB?

    In my view, if you can get NAB at $26.50 you are laughing if you have a long term outlook.

    It hasn't been this price since October 2001 (fallout from Sept 11)... and before that October 2000.
     
  19. stefan

    stefan

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    Re: NAB?

    Joe, I agree. It's coming to levels not seen for a long time and I'm sure we will see a big bounce soon enough. 26.5-26.7 is a bargain level at this stage and if I had the money to enter big time, I would do so. It could easily turn into a 3-4 dollar gain once we see it back on track.
     
  20. JetDollars

    JetDollars

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    Re: NAB?

    Stefan,

    I agreed with you that NAB is a bargain, but the question is how low can NAB go before it bounce back.

    I am planning the buy this stock, but since I am new to the game I am quite nervous because at this stage the stock does not provide any support line whatsoever.

    I will sit tie and watch it where it will be heading next week.

    The only support is at $23.87 (20/09/01), but I don't think NAB will go down that far.
     
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