#BrentFutures #Dax We wonder if the Banking Sector is about to hit a perfect “Buy on the Rumour, Sell on the News” period. There’s been a lot of speculation the cap on bank dividend levels shall be removed this week, coming just ahead of the sectors ‘earnings season’ at the end of July. If the UK lifts its restriction on bank dividends this week, it’s anticipated Europe shall follow suit next week. This gives the media a few weeks in which to speculate on profit levels, especially as banks are reporting lower than expected losses on loans.
Add this to the vaunted “Freedom Day” of July 19th, when the UK Govt has decreed life shall return to normal and the nasty Covid-19 germ will be forbidden from harming folk, there’s certainly a fair number of reasons to anticipate a bout of optimism breaking out.
When we previously reviewed Barclays, we gave criteria for some reversals, along with doubt as to whether it could happen. To our surprise, the criteria triggered but so far, the bank share price has only reached 165p, marginally above our initial drop target. This situation now calculates as weakness below 165p presenting 161p with a reasonable chance of a bounce but unfortunately, our secondary “bottom” number works out at 149p.
The alternate scenario now signals above just 180p should supply a trigger level for surprise gains. Essentially, Barclays share price exceeding this level should supply early warning of some strength and as a result, we can promote 213p as a viable target initially. Our longer term secondary calculates at 225p. Visually, the concept of 213p matches the share price highs of 3 years ago, appealing to our inner nerd and suggesting this shall make a great level for some hesitation.
We’ve a fairly big however, thanks to the dodgy price movements through March and April as shown on the inset on the chart. If you’re one of these sane people who demands a share price achieves “higher highs” before risking a Long position, waiting until the share exceeds 190p remains a sensible concept.
After all, the market clearly indicated there was something going on at the 190p level, a number which was defended more strongly than the gates of Wembley earlier today. Perhaps when fans of Barclays storm the 190p level, a surge shall prove spectacular.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 5:50:23PM | BRENT | 75.29 | 73.49 | 72.965 | 72.12 | 74.6 | 75.73 | 76.09 | 77.5 | 74 | Success |
| 5:52:39PM | GOLD | 1808.42 | ‘cess | ||||||||
| 5:54:47PM | FTSE | 7117.16 | Success | ||||||||
| 6:57:10PM | FRANCE | 6533.1 | Success | ||||||||
| 7:16:56PM | GERMANY | 15681.09 | 15459 | 15419 | 15326 | 15612 | 15699 | 15750 | 15858 | 15515 | Success |
| 7:33:36PM | US500 | 4369.22 | ‘cess | ||||||||
| 7:36:06PM | DOW | 34872 | Success | ||||||||
| 7:37:36PM | NASDAQ | 14822 | |||||||||
| 7:41:03PM | JAPAN | 28484 | Success |
9/07/2021 FTSE Closed at 7121 points. Change of 1.29%. Total value traded through LSE was: £ 4,565,910,390 a change of -14.66%
8/07/2021 FTSE Closed at 7030 points. Change of -1.69%. Total value traded through LSE was: £ 5,350,338,695 a change of -5.7%
7/07/2021 FTSE Closed at 7151 points. Change of 0.72%. Total value traded through LSE was: £ 5,673,997,934 a change of 23.9%
6/07/2021 FTSE Closed at 7100 points. Change of -0.89%. Total value traded through LSE was: £ 4,579,399,515 a change of 38.26%
5/07/2021 FTSE Closed at 7164 points. Change of 0.58%. Total value traded through LSE was: £ 3,312,078,677 a change of -20.84%
2/07/2021 FTSE Closed at 7123 points. Change of -0.03%. Total value traded through LSE was: £ 4,184,057,082 a change of -10.65%
1/07/2021 FTSE Closed at 7125 points. Change of 1.25%. Total value traded through LSE was: £ 4,682,685,719 a change of -14.48%
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:AFC AFC Energy** **LSE:AVCT Avacta** **LSE:BBY BALFOUR BEATTY** **LSE:CAR Carclo** **LSE:DGE Diageo** **LSE:EMG MAN** **LSE:EXPN Experian** **LSE:HIK Hikma** **LSE:NG. National Glug** **LSE:VEC Vectura** **
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Updated charts published on : AFC Energy, Avacta, BALFOUR BEATTY, Carclo, Diageo, MAN, Experian, Hikma, National Glug, Vectura,
LSE:AFC AFC Energy. Close Mid-Price: 61.2 Percentage Change: + 0.16% Day High: 62 Day Low: 60.4
Perhaps hope exists, the price now needing exceed just 67 to indicate the ……..
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View Previous AFC Energy & Big Picture ***
LSE:AVCT Avacta Close Mid-Price: 145 Percentage Change: -5.84% Day High: 151.5 Day Low: 142.5
Weakness on Avacta below 142.5 will invariably lead to 137 with secondary ……..
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View Previous Avacta & Big Picture ***
LSE:BBY BALFOUR BEATTY. Close Mid-Price: 312.6 Percentage Change: + 0.64% Day High: 315 Day Low: 304.4
By a small amount, this became mildly interesting as movement next above 3 ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:CAR Carclo Close Mid-Price: 48.35 Percentage Change: -3.30% Day High: 50.6 Day Low: 48
Continued weakness against CAR taking the price below 48 calculates as le ……..
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View Previous Carclo & Big Picture ***
LSE:DGE Diageo. Close Mid-Price: 3434 Percentage Change: + 0.01% Day High: 3455 Day Low: 3416.5
For some reason, 3434 has been annointed as a floor level for the last few ……..
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View Previous Diageo & Big Picture ***
LSE:EMG MAN. Close Mid-Price: 192.65 Percentage Change: + 2.66% Day High: 193.8 Day Low: 187.65
Continued trades against EMG with a mid-price ABOVE 193.8 should improve ……..
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View Previous MAN & Big Picture ***
LSE:EXPN Experian. Close Mid-Price: 2938 Percentage Change: + 0.65% Day High: 2958 Day Low: 2923
Further movement against Experian ABOVE 2958 should improve acceleration ……..
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View Previous Experian & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 2623 Percentage Change: + 2.18% Day High: 2625 Day Low: 2569
Further movement against Hikma ABOVE 2625 should improve acceleration tow ……..
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View Previous Hikma & Big Picture ***
LSE:NG. National Glug. Close Mid-Price: 939.6 Percentage Change: + 0.43% Day High: 940.3 Day Low: 933.3
This has interesting potentials as above 942 now works out with an initial ……..
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View Previous National Glug & Big Picture ***
LSE:VEC Vectura. Close Mid-Price: 154.6 Percentage Change: + 14.01% Day High: 154.4 Day Low: 152.2
In the event of Vectura enjoying further trades beyond 154.4, the share s ……..
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View Previous Vectura & Big Picture ***