Barclays Plc (LSE:BARC), will it ever be spring?  

#Brent #Nasdaq

The grass has started growing here in Argyll, always worrying as the onset of spring invariably provokes the need to service our little tractor. Worse than foliage, pools in the forest are coated with frog-spawn, unseasonably early, a good summer ahead as clever frogs avoid their breeding ground drying out in good weather. Finally, Barclays opted to establish a £1.2bn bonus pot, so of course their share price dropped like a stone on February 15th.

All kidding aside, over the years we’ve notice the markets invariably “feel” better in good weather, probably because there is nothing to beat a doze of sunshine for provoking a feel good factor amongst traders. Alas, for Barclays, we have concerns!

 

The Blue line on the chart dates back to 2007. As trends go, it certainly appears to be valid, the market manipulating Barclays share price below this trend in a hysterical movement celebrating essentially nothing. The company CFO mentioned pre-tax profits would have been up 9%, had there not been a need to increase the amount of money tucked under the banks mattress to cover a ‘potential’ rise in Covid load defaults. With distinctly unsporting behaving, she also mentioned;

“So we are not seeing increases in arrears. If anything, they are lower than they were, and very stable.”

There was quite a lot about Barclays share price drop (circled) which failed to make sense, leaving us with a distinct suspicion it’s just not the banking sectors turn to experience positive movement. A contrived drop to force the share price below a 16 year old trend felt just a little silly. We believe the next problem shall arise, should Barclays close a session below 169p as ongoing reversal to 160p looks very possible with our secondary, and hopeful bounce point, working out at 150p.

Our converse scenario, if any miracles are scheduled, comes if the bank share manages to close a session above Blue (179p presently) as movement to 196p calculates as possible with our secondary working out at a visually pleasing 218p and almost certain hesitation.

 

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop
9:29:29PM	BRENT	82.93	81.26	80.335	79.09	82.99	83.14	83.88	85.08	82.06
9:31:52PM	GOLD	1811.13								1818
9:33:36PM	FTSE	7918.99								7895
9:35:05PM	STOX50	4201.3								4196
9:36:53PM	GERMANY	15237								15318
9:39:09PM	US500	3974.52								3967
9:46:51PM	DOW	32867								32742
9:48:46PM	NASDAQ	11981.6	11896	11879	11760	12016	12017	12043	12092	11919
9:50:18PM	JAPAN	27345								27307

 

24/02/2023 FTSE Closed at 7878 points. Change of -0.37%. Total value traded through LSE was: £ 6,377,185,346 a change of 16.01%

23/02/2023 FTSE Closed at 7907 points. Change of -0.29%. Total value traded through LSE was: £ 5,497,114,036 a change of -4.82%

22/02/2023 FTSE Closed at 7930 points. Change of -0.59%. Total value traded through LSE was: £ 5,775,714,264 a change of -17.45%

21/02/2023 FTSE Closed at 7977 points. Change of -0.46%. Total value traded through LSE was: £ 6,996,845,952 a change of 263.69%

20/02/2023 FTSE Closed at 8014 points. Change of 0.12%. Total value traded through LSE was: £ 1,923,863,385 a change of -74.93%

17/02/2023 FTSE Closed at 8004 points. Change of -0.1%. Total value traded through LSE was: £ 7,672,519,841 a change of 57.8%

16/02/2023 FTSE Closed at 8012 points. Change of 0.19%. Total value traded through LSE was: £ 4,862,026,417 a change of -10.79%

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:FRES Fresnillo** **LSE:IAG British Airways** **LSE:RR. Rolls Royce** **LSE:TRN The Trainline** **LSE:ZOO Zoo Digital** **

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Updated charts published on : Aviva, Fresnillo, British Airways, Rolls Royce, The Trainline, Zoo Digital,

LSE:AV. Aviva. Close Mid-Price: 440 Percentage Change: + 0.16% Day High: 443 Day Low: 439.1

Now below just 434 looks capable of reversal to an initial 420 with second ……..

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LSE:FRES Fresnillo Close Mid-Price: 768.8 Percentage Change: -0.90% Day High: 780.8 Day Low: 767.4

If Fresnillo experiences continued weakness below 767.4, it will invariab ……..

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LSE:IAG British Airways Close Mid-Price: 154.76 Percentage Change: -6.46% Day High: 170.62 Day Low: 152.02

This is looking a bit risky as weakness below 152 indicates the potential ……..

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View Previous British Airways & Big Picture ***

LSE:RR. Rolls Royce. Close Mid-Price: 136.04 Percentage Change: + 2.21% Day High: 142.32 Day Low: 129.9

Further movement against Rolls Royce ABOVE 142.32 should improve accelera ……..

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View Previous Rolls Royce & Big Picture ***

LSE:TRN The Trainline. Close Mid-Price: 246 Percentage Change: + 2.24% Day High: 246 Day Low: 237.2

Continued weakness against TRN taking the price below 237.2 calculates as ……..

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View Previous The Trainline & Big Picture ***

LSE:ZOO Zoo Digital. Close Mid-Price: 198.5 Percentage Change: + 3.12% Day High: 202.5 Day Low: 192.5

Target met. Continued trades against ZOO with a mid-price ABOVE 202.5 sho ……..

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View Previous Zoo Digital & Big Picture ***

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