Natwest Group share prices have traded aggressively to the upside in the last few weeks. This has seen the share price rise by more than 20 per cent since the bullish trend began. The company, a UK banking and financial services company, has posted some of the most impressive financial reports in the past few years.
In the 2021 financial year, the company posted revenue of £12.67 billion. This was a decline from the £13.96 billion the company had posted in 2020. Natwest Group also posted a net income of £2.97 in 2021. This was a huge improvement from the loss of £727 million the company had posted in 2020.
Formerly known as the Royal Bank of Scotland, Natwest had been held majorly by the government since 2008. However, this appears to no longer be the case after the government sold £1.2 billion worth of shares. The move was described as an important step by the treasury in a bid to return the bank into private ownership. However, the transfer of the shares had little impact on the share prices as the company saw its share prices remain steady during the sale.
Natwest Group Share Price Prediction
Natwest Group’s share price has risen by more than 2 per cent in today’s trading session. The prices have also been showing an aggressive upward lean in the past few weeks. This is after the prices set a 2022 price low of $183 on March 7. Since then, the prices have trended aggressively upwards, gaining 22 per cent.
On the daily chart below, we can see they have erased yesterday’s drop in price after the current. The prices have also approached the $235 resistance level aggressively. Based on the current price action, my Natwest Group share price prediction shows the prices will be trading at the $235 resistance level in the next few days. There is also a high likelihood of the prices breaking above the resistance level. If that happens, I expect the prices to continue rising until they hit the $250 psychological level.