Barclays #Brent #SP500 Before examining Barclays, the weekend brought a reminder of something particularly vile about @FIAFormulaE. Listening to it is like trying to enjoy the noise of a dentists drill! Certainly, good racing but the audio stinks. Perhaps more enjoyable was the weekends F1 race, smug commentators agreed it would be a race between just 3 drivers.
Watching an unmentioned driver win the race, 20 seconds ahead, along with achieving the fastest lap, made Australia worth getting up early for. There was the added bonus with the guy so far ahead, of the cameras ignoring him, concentrating instead on the actual racing going on amongst the “also rans” trailing behind him. Unfortunataly, the race winner – Bottas – is also Finnish, thus almost certain to experience illogical events as the season rolls onward. Which reminds us of Barclays share price…
Today, Barclays share requires to CLOSE a session above, roughly, 173.528p to better the ruling downtrend since 2007 and enter the land of milk and honey. As a result, we need look at any near term scenario which should prove capable of pulling off such a miracle. To our surprise, there is something going on which theoretically should prove capable of such in the weeks ahead.
The immediate situation is fairly forthright with two, quite seperate, criteria claiming movement now above 167p should bring some recovery to an initial 173p. If it achieves this ambition following the current Brexit date, it will better the trend. Closure above BLUE enters a longer term cycle to an initial 186p and hopefully beyond.
As the chart shows, these calculations are not terribly important in the great scheme of things, other than to prove a downtrend since the beginning of time can be exceeded. Similar to the guys F1 victory, the movements risk being consigned to the grey mist of history until such time Barclays start achieving Higher Highs, essentially trading above 212p. To us, this means while 173p has become very probable, the share price is going to require considerably more before we dare express optimism for a longer term future.
If Barclays intend fall of a cliff, the price needs trade below just 157p to spell danger. A movement such as this will tend draw it back into the clutches of 148p and below, perhaps considerably below. For now, we’re a little optimistic for 173p.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
12:55:12PM |
BRENT |
66.98 |
66.07 |
65.66 |
64.84 |
67.04 |
67.18 |
67.45 |
67.91 |
66.1 |
Success |
|
12:57:49PM |
GOLD |
1302.54 |
|||||||||
|
1:00:10PM |
FTSE |
7235.22 |
‘cess |
||||||||
|
1:03:47PM |
FRANCE |
5410 |
Success |
||||||||
|
1:06:51PM |
GERMANY |
11691 |
Success |
||||||||
|
1:16:25PM |
US500 |
2825.22 |
2802 |
2796.5 |
2785 |
2821 |
2831 |
2842 |
2860 |
2808 |
|
|
9:35:41PM |
DOW |
25867.3 |
‘cess |
||||||||
|
9:38:05PM |
NASDAQ |
7316.9 |
‘cess |
||||||||
|
9:40:08PM |
JAPAN |
21521 |
‘cess |
15/03/2019 FTSE Closed at 7228 points. Change of 0.6%. Total value traded through LSE was: £ 11,729,104,322 a change of 79.13%