#Brent Crude #DAX Sometimes a television program comes along and folk say “this, alone, makes the BBC licence fee worthwhile!”. Unfortunately for the state broadcaster, it seems Netflix may be deserving of such a title. Their recent show “Legends” proved compulsive viewing over the weekend, justifying a “This alone makes a Netflix subscription worthwhile!”. We do tend be a little cynical as we had once subscribed to Amazon, just to watch “The Grand Tour” from Clarkston & Co. Once it finished, we cancelled the subscription, only to renew once Clarkstons Farm became a thing. But “Legends” proved truly addictive viewing, rationing ourselves with two episodes per evening from Friday until the show ended on Sunday evening. An uncle who was rather senior in the government organisation which is the focus of the program, we were regaled with some of the tale in the late 1980’s (at a Viking festival in Orkney) but this TV show brought his drunken story telling to life.
And this, of course, brings us to Barclays Plc…
Actually, struggling to find the correct entry point for a Barclays Plc story, there is one aspect of the television show which wasn’t mentioned, not even slightly. In the final rolling credits, the text told of UK civil servants successfully achieving heroic results without any additional government support, manpower, or training. What they missed out was important, the events took place in the final decade where senior management had mostly fought in the second world war, were nearing retirement, and when the need presented itself, exactly the people needed to deal with such a threat were in place. This sort of thing was repeated at senior level through politics, industry, and the banking sector, where newer senior management had military levels of discipline and expectations, often encouraging recruitment from commissioned military. From a personal perspective, witnessing at first hand the decline in competence in the Oil sector and Banking sector was weird, not because of any empathy with these senior Golf & Lunch brigade members but instead, seeing a complete change of ethos which by the start of the 21st century heralded a “new” banking sector and “new” oil sector as the old, ex-military, thinking vanished. However, the core of our skiing gang were mostly ex-military, now in corporate world upper management just before everything changed completely and civilians took precedence. As someone in business, tt would be difficult to find something nice to say about the banking sector during that period, management dissolving into a murky group-think where the only thing was a belief everything from the past was bad, computers were the only future, and customers – as it still the case – were the enemy. My bank manager could ski and would also attend (take over) jamming sessions in my garage. It was a real garage and we used the body & spray shop, allowing us to face the drummer and use whatever amps we wanted. He was ex-military and took early retirement from Barclays, faster than an eye can blink when offered.
For various reasons, we’re inclined toward optimism for Barclays.
Perhaps importantly, the share price is now trading solidly above 445p, the level at which it broke through the immediate Blue downtrend. From our conventional arguments, this now suggests a “sure thing”, where movement above 463.5 should propel the share price to an initial 488p with our “longer term” secondary, if bettered, at 499p and the visible threat of some hesitation.
Adding flamable chemicals to this fire is the Red uptrend, one which implies movement above just 443p should be taken seriously as a sign some strong recovery should be planned for. This argument is a little more insane than the one in the preceding paragraph, suggesting a cycle to an initial 528p has become possible, maybe even a fruitcake factory 584p. We fear this Red Line theory relies a little heavily on President Trump striding the world, spreading sweetness & Light, along with everyone agreeing with him, utterly.
As always, we need to supply our negative scenario, one which we actually doubt as the market “wants” to go up. But below just 440p would apparently be a bad thing, allowing reversal to an initial 388p with our secondary, if broken, at 362p. And hopefully a bounce…
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 10:44:09PM | BRENT | 9124.5 | 8960 | 8565 | 7626 | 9270 | 9260 | 9358 | 9492 | 9092 |
| 10:46:44PM | GOLD | 4539.9 | ||||||||
| 10:48:33PM | FTSE | 10369 | ||||||||
| 10:50:50PM | STOX50 | 6026 | ||||||||
| 10:52:39PM | GERMANY | 25050.1 | 25030 | 24954 | 24868 | 25121 | 25212 | 25335 | 25478 | 25076 |
| 10:56:05PM | US500 | 7577.6 | ||||||||
| 10:59:53PM | DOW | 51004.2 | ||||||||
| 11:01:48PM | NASDAQ | 30362.2 | ||||||||
| 11:03:49PM | JAPAN | 66231 |
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:GRG Greggs** **LSE:ITM ITM Power** **LSE:OCDO Ocado Plc** **LSE:OXIG Oxford Instruments** **LSE:RR. Rolls Royce** **LSE:STAR Star Energy** **
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Updated charts published on : Greggs, ITM Power, Oxford Instruments, Rolls Royce, Star Energy,
LSE:GRG Greggs. Close Mid-Price: 1716 Percentage Change: + 0.00% Day High: 0 Day Low: 0
In the event of Greggs enjoying further trades beyond 1756p, the share sh ……..
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View Previous Greggs & Big Picture ***
LSE:ITM ITM Power. Close Mid-Price: 194.4 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Continued trades against ITM with a mid-price ABOVE 217.6p should improve ……..
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View Previous ITM Power & Big Picture ***
LSE:OCDO Ocado Plc. Close Mid-Price: 223 Percentage Change: + 0.00% Day High: 0 Day Low: 0
In the event of Ocado Plc enjoying further trades beyond 240p, the share ……..
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View Previous Ocado Plc & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 3278 Percentage Change: + 0.00% Day High: 0 Day Low: 0
All Oxford Instruments needs are mid-price trades ABOVE 3278p to improve ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 1337.4 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Further movement against Rolls Royce ABOVE 1347.4p should improve acceler ……..
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View Previous Rolls Royce & Big Picture ***
LSE:STAR Star Energy. Close Mid-Price: 18.5 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. Continued trades against STAR with a mid-price ABOVE 18.5p sh ……..
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View Previous Star Energy & Big Picture ***