Barclays Plc (LSE:BARC) in lights

 #Brent #Dax

As we approach December, it’s becoming clear how similar this time of year is to spring but not in a global warming sense. Instead, we start to see the first glimmers of illuminated garden ornaments sprout in the first weeks of November and, with the month running downhill into the festive season, things start to exhibit the occasional Full Blown Santa mode.

We can close at home upon being asked to paint the Xmas tree. My wife had a cunning plan last year, instead of burning the old tree, keep it and paint it white once all the needles fell off. For eleven months, the old Xmas tree was dumped in the forest and, upon being reminded, a shock awaited. There’s an entire industry dedicated to reducing pine needles falling off trees but, if ignored, it seems the things retain their needles without difficulty. Obviously, there was a simple fix, just chuck it over the 7 metre cliff at the top of the garden, the theory being a good shock would dislodge the brown foliage. The thing tumbled down in a cloud of needles but, when examined, every branch still looked like it retained its plumage. Taking inspiration from a John Cleese sketch, the next idea was to give it a good thrashing, the detritus on ground suggesting the plan had worked. But once again, the bulk of the tree remained covered in needles.

Eventually, the job had to be done by hand, wearing thick gloves and rubbing along every single little branch and twig. Eventually, we had a naked tree, ready to be spray painted which but unfortunately, there was now a problem. It was 3pm and here in the Scottish mountains, it’s getting dark. As a result, the project is delayed until next weekend which is fine, ‘cos Xmas decorations shouldn’t start to sprout until December or, during a pandemic.

 

The simile with the famed John Cleese sketch, giving his car a good thrashing with a branch, popped to mind while this uncooperative pine tree was being swung against an innocent beech tree as we knew we were writing about Barclays. Three weeks ago when we covered the share, our first criteria was a scenario where above 155p should trigger movement to 160p initially. The last week saw this ambition attained, their share price reaching a magnificent 160.22p twice! The price clearly needs a good thrashing…

Our inclination is to take some hope from two directions.

By a spiteful 0.22p, the price did exceed our initial target, creating a situation where above 160.22p should need provoke an initial 169p with our longer term secondary, should this level be exceeded, now calculating at 187p.

Additionally, there’s the behaviour of the share price since it regained the Red uptrend since the pandemic crash of 2020. As the chart inset highlights, the market is taking extraordinary lengths to maintain Barclays share price in comparative safety above the trend, generally a pretty confident signal for the future.

Their share price would require to slip below 148p to give the first signal of real trouble ahead, threatening an initial 138p with secondary, if broken, a less confident looking 128p. Goodness knows why the reversal projection is in 10p increments.

Numbers are like pine needles, there’s far too many of them.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop
8:38:38PM BRENT 83.98 83.54 82.42 80.93 85.75 86.89 87.42 88.59 85.08
8:41:13PM GOLD 1755.38
8:42:48PM FTSE 7483
8:56:44PM STOX50 3963
5:00:52PM GERMANY 14548 14489 14452 14408 14558 14584 14604 14640 14532
5:02:15PM US500 4027
5:05:14PM DOW 34360.5
5:06:48PM NASDAQ 11768
5:08:45PM JAPAN 28417

 

25/11/2022 FTSE Closed at 7486 points. Change of 0.27%. Total value traded through LSE was: £ 4,412,047,721 a change of 36.26%
24/11/2022 FTSE Closed at 7466 points. Change of 0.01%. Total value traded through LSE was: £ 3,237,992,179 a change of -28.67%
23/11/2022 FTSE Closed at 7465 points. Change of 0.17%. Total value traded through LSE was: £ 4,539,480,951 a change of 32.52%
22/11/2022 FTSE Closed at 7452 points. Change of 1.03%. Total value traded through LSE was: £ 3,425,428,256 a change of -30.51%
21/11/2022 FTSE Closed at 7376 points. Change of -0.12%. Total value traded through LSE was: £ 4,929,378,651 a change of -6.71%
18/11/2022 FTSE Closed at 7385 points. Change of 0.53%. Total value traded through LSE was: £ 5,283,705,968 a change of 16.51%
17/11/2022 FTSE Closed at 7346 points. Change of -0.31%. Total value traded through LSE was: £ 4,534,930,132 a change of -10.24%

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:BLVN Bowleven** **LSE:FRES Fresnillo** **LSE:IGG IG Group** **LSE:LLOY Lloyds Grp.** **LSE:SCLP Scancell** **

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Updated charts published on : Bowleven, Fresnillo, IG Group, Lloyds Grp., Scancell,

LSE:BLVN Bowleven. Close Mid-Price: 1.95 Percentage Change: + 0.00% Day High: 1.95 Day Low: 1.7

If Bowleven experiences continued weakness below 1.7, it will invariably ……..

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LSE:FRES Fresnillo Close Mid-Price: 895.4 Percentage Change: -0.47% Day High: 905.8 Day Low: 886.2

All Fresnillo needs are mid-price trades ABOVE 905.8 to improve accelerat ……..

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LSE:IGG IG Group. Close Mid-Price: 828 Percentage Change: + 0.18% Day High: 834 Day Low: 822

Continued trades against IGG with a mid-price ABOVE 834 should improve th ……..

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LSE:LLOY Lloyds Grp.. Close Mid-Price: 46.31 Percentage Change: + 0.81% Day High: 47.35 Day Low: 45.8

All Lloyds Grp. needs are mid-price trades ABOVE 47.35 to improve acceler ……..

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LSE:SCLP Scancell. Close Mid-Price: 22.7 Percentage Change: + 9.40% Day High: 22.85 Day Low: 20.75

Target met. Continued trades against SCLP with a mid-price ABOVE 22.85 sh ……..

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

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