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On Thursday, Natwest’s share price jumped significantly after investors reacted positively to the launch of the bank’s new housing app, “Housemate.” This app is designed to help people who share accommodation manage and split their bills, and it also helps users build their credit history.
The app was developed based on feedback from a survey of 1,500 UK residents, where about 50% said that sharing bills was a major issue when living with housemates. The app allows users who owe bills to pay their share through Natwest’s Open Banking platform.
Investors were excited about the new app, which drove Natwest’s shares up, placing the bank third on the FTSE100 index gainers’ chart with a 1.41% increase.
Looking ahead, Natwest’s share price is approaching the 220.0 resistance level. If the positive momentum continues, the price could break this resistance and potentially target 228.3, marking an 18-month high and possibly leading to a further rise towards 233.6.
However, if the share price fails to break through the 220.0 resistance, it may pull back to target 214.5, with additional downside targets at 210.0 and 200.6.