#Brent #Dax The Xmas Gestapo never forget! After an elm tree in the front garden was decorated with twinkle lights, the lady of the house drove past repeatedly, clambered down to the shore to inspect the job, eventually admitting the display was ‘safe’. A “Top Gear / Grand Tour” inspired illuminated manhood shape still has not been forgotten nor forgiven. Talking of which, Barclays springs to mind and their surprise elevation on Friday with the election result.
Our previous report (link)
suggested criteria to drag Barclays up to 187p, a feat it achieved on Friday. We
now need examine its potentials with greater scrutiny than Mrs T&T employed with
the exterior Xmas light placement. (Thankfully, she did not
fly a drone over the back garden! With LED lighting available at 4 quid for 10
metres, creative design proved easy.)
A detail of enormous importance and one worth watching
for is the risk of the market finding an excuse to reverse Barclays below Blue
on the chart. This could easily create one of our GaGa movements, a Gap Up/Gap
Down. The formula we employ with this sort of nonsense indicates should Barclays
share price now be trashed below Blue (presently 173p), it’s going to find its
way down to 110p eventually.
At present, absolutely nothing suggests this is coming
but it’s worth remembering something important about politics. Often, something
which looks good on the day, looks rather jaded, when examined in detail!
For now, we’re pretty impressed with the shares
immediate performance and now, movement above 188p is supposed to be capable of
an initial 204p. Despite the 2 quid level visually suggesting a ‘glass ceiling
in waiting’, we’re not so sure as above 204p should make 224pp difficult to
In summary, quite a lot of hints are saying this
intends 204p. Beyond such a level and we start to develop doubts.
Updated charts published on : AFC Energy, Barclays, BALFOUR BEATTY, Barrett Devs, Bowleven, BP PLC, Capita, Diageo, EasyJet, Foxtons, Hargreaves Lansdown, Hurrican Energy, British Airways, Igas Energy, IG Group, Intercontinental Hotels Group, ITV, Kaz Minerals, Lloyds Grp., Marks and Spencer, National Glug, Premier, Quadrise, Royal Bank Scot, Royal Male, Sainsbury, Speedyhire, Tullow, Tesco, Taylor Wimpey, Zoldav, Zoo Digital,
LSE:AFC AFC Energy Close Mid-Price: 14.47 Percentage Change: -3.02% Day High: 15.5 Day Low: 14.05
This remains dangerous as below 11.7 now gives 10.3 with some rebound pote ……..
*** End of “Updated Today” comments on shares. Listed below are those where commentary remains valid.
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