I have been long on Australian banking institutions for well over 6 months and am currently holding positions in NAB, Westpac, and ANZ.

From a fundamnetal perspective and considering the current concerns surrounding bond yields and inflation, banks a posied to take advantage of rising inflation levels and eventually higher interest rates.

This will support the majority of a banking institutions product lines as higher borrowing costs, influence their pricing for loan provisions directly.

From the technical perspective i am adding to my positions to day on the national Australia Bank (NAB) due price sitting precariously close to its current support line. it provides a reasonable point of entry with a support line just below meaning a stop loss can be kept relativly tight to price.

In terms of aims for the next move up i am lookinjg to match the pre pandemic high in the $27 range.

NAB Long

Mar 23 2021

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