 Hello and welcome to the chart of the week video with the self David Madden. Today's date is Thursday the 10th of May And the time has just gone 12 20 British summertime and this week's chart of the week is going to be roll Bank of Scotland Taking a look here at the weekly chart to give it a long long long perspective We can see that the share price has been a solid upward trend since July 2016 so we're coming up now on nearly two years A fairly solid upward trend in in February of 2018 The bailout bank returned the profit at its first profit since the credit crisis and today Rollback has gotten announced that it's provisionally agreed Just to pay a four point nine billion dollar fine with the US Department of Justice the DOJ Now a couple years ago unless we're talking about a potential twelve billion dollar fine So the fine today a vision announced at four point nine billion is considerably lower This could also pave the way for the British government to start to unwind. It's 71% stay in the bailout bank So taking a look at the price action on a daily chart We can see what's been going on over the last year once again in a fairly fairly decent upward trend The share price in January of this year in its highest level since December 2015 even though we did have a sizable sizeable correction in the in the first quarter of 2018 It's that managed to retain above the September low So you saw argue that that is still but it still continue to be in the upper trend As you can see here in recent weeks the share price pushed higher and we saw a steady increase in positive momentum We had a bit of a blip last week and today the share price actually gapped higher So gapping to the upside is a is bullish As you can see here on the MACD histogram the MACD indicator There's been a steady increase in positive momentum So the positive move in the share price today and yesterday has been confirmed by the increase In the MACD indicator, so the buy so the momentum is clearly with the buyers So if you've gapped higher here, we're pushing higher here If you do manage to continue this bullish run, we could be looking at targeting 304 The 2018 high and I can say that's also a level not seen since the end of 2015 now if you do manage to drift lower, we may find some some fresh buyers enter the fold now one of the myths about Gaps is that they're always filled. They're not always filled, but they are regularly filled So it is possible. We could see the share price drift Drifted lower possibly down towards 280 or perhaps the end the yesterday's high point of 276 Before potentially resuming the wider up in upper trend. That's been a place for nearly two years We're still managed to holding above the two-day moving average which comes to play at 270 So while we remain north 270 It's likely that the outlook is going to remain positive and even if we dip a low to 70 We may find support coming to play at this blue line here at 265 the 50 day moving average And notice how it did manage to act as both resistance and a support Only last month so well while a metric has acted as both Support and resistance recently it could act it could be significant again in the future It's only if you take out the the march low of 253 We then could then we begin to be worried that we're actually looking to actually extend a downward move And from there we could be looking any factor on towards 240. Well, that's all for me this week. Thank you very much