Barclays & The Big Bad Banking Sector

#Brent #Dax When we previously reviewed Barclays just over a month ago, we wound up our report by mentioning we believe the share price intended a visit to 217p. However, in a month quite a lot can change. Though perhaps quite a little, rather than quite a lot, when discussing the UK’s retail banking sector!

However, a glance at the Banks Index part of the FTSE, memorably named as the FTSE:NMX301010, actually gives reasonable cause for hope. The sector has accelerated through the Blue downtrend since 2018 and is now illustrating a series of highs. As a result, the immediate situation is encouraging as movement above 3,308 points now allows for further recovery to 3,426 points with secondary, if bettered, at 3,673 points. This secondary clashes quite neatly with the pre-covid high in February 2020 and we suspect, if attained, represents a level at which we should expect some hesitation in the banking sector. Things only become interesting for the longer term with CLOSURE above 3,673 points as a strong argument can be made for ongoing travel to 4,448 points.

What has this to do with Barclays Plc?

 

Essentially, when the banking sector as a whole develops some slight angst around the 3,400 level, whatever price level Barclays finds itself languishing is also doubtless going to prove itself capable of some hesitation. In the case of Barclays, we’re a little conflicted thanks to a couple of variable arguments.

Near term, above 207.5p should now make an attempt at 218p next. We’re already pretty certain the bank share price intends a visit to this level. Closure above 218p should prove interesting, allowing a visit to a future 240p. It’s the 240p level we suspect shall prove capable of some grief, probably matching our ambition of 3,673 or so for the Banking Sector.

Visually, Barclays share price has quite a lot going for it currently, already trading higher than the pre-pandemic high and now painting a series of “higher highs” on the chart below.

If things intend go pear shaped, the bank currently needs trade below 175p to generate a serious level of concern. Our inclination is to remain viewing Barclays favourably, at least until 240p makes an appearance. Goodness knows how long it may take!

Once again, a huge thanks to the nice folk who discover fascinating adverts on this page worthy of a visit. It keeps the coffee flowing!

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
8:06:41PM BRENT 81.57 81.2 80.76 80.08 81.9 82.8 83.2 84.28 79.4 ‘cess
8:08:50PM GOLD 1796.07 1792 ‘cess
8:11:01PM FTSE 7490.66 7428
8:13:03PM FRANCE 7228.2 7172 ‘cess
9:01:57PM GERMANY 15951.77 15856 15799 15635 15971 16063 16133 16224 15925 Success
9:04:01PM US500 4690.12 4661
9:06:19PM DOW 36344.8 36104 ‘cess
9:09:00PM NASDAQ 15646 15517
9:12:15PM JAPAN 28402 28376 Success

 

7/01/2022 FTSE Closed at 7485 points. Change of 0.47%. Total value traded through LSE was: £ 5,474,069,038 a change of -10.83%
6/01/2022 FTSE Closed at 7450 points. Change of -0.88%. Total value traded through LSE was: £ 6,138,809,460 a change of 26.57%
5/01/2022 FTSE Closed at 7516 points. Change of 0.15%. Total value traded through LSE was: £ 4,850,064,854 a change of -31.07%
4/01/2022 FTSE Closed at 7505 points. Change of 1.64%. Total value traded through LSE was: £ 7,036,052,579 a change of 378.45%
31/12/2021 FTSE Closed at 7384 points. Change of -0.26%. Total value traded through LSE was: £ 1,470,600,972 a change of -36.25%
30/12/2021 FTSE Closed at 7403 points. Change of -100%. Total value traded through LSE was: £ 2,306,886,388 a change of 0%
29/12/2021 FTSE Closed at 7420 points. Change of 0%. Total value traded through LSE was: £ 3,844,071,499 a change of 0%

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:AV. Aviva** **LSE:BBY BALFOUR BEATTY** **LSE:BP. BP PLC** **LSE:DDDD 4D Pharma** **LSE:DGE Diageo** **LSE:FRES Fresnillo** **LSE:HIK Hikma** **LSE:HSBA HSBC** **LSE:ITM ITM Power** **LSE:LLOY Lloyds Grp.** **LSE:MKS Marks and Spencer** **LSE:NWG Natwest** **LSE:POLY Polymetal** **LSE:PPC President Energy** **LSE:STAN Standard Chartered** **LSE:VOG VICTORIA** **

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Updated charts published on : Aviva, BALFOUR BEATTY, BP PLC, 4D Pharma, Diageo, Fresnillo, Hikma, HSBC, ITM Power, Lloyds Grp., Marks and Spencer, Natwest, Polymetal, President Energy, Standard Chartered, VICTORIA,

LSE:AV. Aviva. Close Mid-Price: 432.1 Percentage Change: + 1.46% Day High: 432.2 Day Low: 425.8

In the event of Aviva enjoying further trades beyond 432.2, the share sho ……..

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LSE:BBY BALFOUR BEATTY Close Mid-Price: 270.2 Percentage Change: -1.10% Day High: 279.6 Day Low: 268.4

Continued trades against BBY with a mid-price ABOVE 279.6 should improve ……..

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View Previous BALFOUR BEATTY & Big Picture ***

LSE:BP. BP PLC. Close Mid-Price: 362.55 Percentage Change: + 2.08% Day High: 362.45 Day Low: 356.45

Target met. Further movement against BP PLC ABOVE 362.45 should improve a ……..

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LSE:DDDD 4D Pharma Close Mid-Price: 47 Percentage Change: -6.37% Day High: 50.1 Day Low: 46.25

Weakness on 4D Pharma below 46.25 will invariably lead to 44 with seconda ……..

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View Previous 4D Pharma & Big Picture ***

LSE:DGE Diageo Close Mid-Price: 3874.5 Percentage Change: -2.61% Day High: 3958 Day Low: 3860.5

Continued weakness against DGE taking the price below 3860.5 calculates a ……..

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View Previous Diageo & Big Picture ***

LSE:FRES Fresnillo Close Mid-Price: 819.8 Percentage Change: -0.10% Day High: 827.2 Day Low: 805

If Fresnillo experiences continued weakness below 805, it will invariably ……..

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LSE:HIK Hikma. Close Mid-Price: 2134 Percentage Change: + 0.42% Day High: 2129 Day Low: 2087

Weakness on Hikma below 2087 will invariably lead to 2082 with secondary ……..

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View Previous Hikma & Big Picture ***

LSE:HSBA HSBC. Close Mid-Price: 482.3 Percentage Change: + 0.85% Day High: 482.6 Day Low: 475.8

Continued trades against HSBA with a mid-price ABOVE 482.6 should improve ……..

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View Previous HSBC & Big Picture ***

LSE:ITM ITM Power. Close Mid-Price: 364.6 Percentage Change: + 0.44% Day High: 375.6 Day Low: 357.6

If ITM Power experiences continued weakness below 357.6, it will invariab ……..

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View Previous ITM Power & Big Picture ***

LSE:LLOY Lloyds Grp.. Close Mid-Price: 52.84 Percentage Change: + 1.62% Day High: 53.18 Day Low: 52.11

In the event of Lloyds Grp. enjoying further trades beyond 53.18, the sha ……..

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View Previous Lloyds Grp. & Big Picture ***

LSE:MKS Marks and Spencer. Close Mid-Price: 256.6 Percentage Change: + 2.27% Day High: 258.9 Day Low: 251.4

Continued trades against MKS with a mid-price ABOVE 258.9 should improve ……..

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View Previous Marks and Spencer & Big Picture ***

LSE:NWG Natwest. Close Mid-Price: 246.5 Percentage Change: + 1.19% Day High: 247.3 Day Low: 241.6

Target met. Further movement against Natwest ABOVE 247.3 should improve a ……..

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View Previous Natwest & Big Picture ***

LSE:POLY Polymetal Close Mid-Price: 1194 Percentage Change: -0.54% Day High: 1205 Day Low: 1184.5

Continued weakness against POLY taking the price below 1184.5 calculates ……..

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LSE:PPC President Energy Close Mid-Price: 1.8 Percentage Change: -6.49% Day High: 1.94 Day Low: 1.8

If President Energy experiences continued weakness below 1.8, it will inv ……..

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View Previous President Energy & Big Picture ***

LSE:STAN Standard Chartered. Close Mid-Price: 487 Percentage Change: + 2.03% Day High: 488 Day Low: 476.9

All Standard Chartered needs are mid-price trades ABOVE 488 to improve ac ……..

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View Previous Standard Chartered & Big Picture ***

LSE:VOG VICTORIA. Close Mid-Price: 4.5 Percentage Change: + 20.00% Day High: 4.85 Day Low: 3.75

Target met. Continued trades against VOG with a mid-price ABOVE 4.85 shou ……..

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View Previous VICTORIA & Big Picture ***

*** End of “Updated Today” comments on shares.

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