#Brent #Dax April ended, quite fittingly, with a couple of massive practical jokes. The Grand Prix race in Baku proved astounding, a classic example of how not to make sport interesting, producing a boring procession of cars which lasted for 90 minutes. More subtle was the theft of the coronation stone from Scotland, something apparently essential for a new monarch.
The Stone of Scone, previously forcibly repatriated from England in 1950, was collected by the usual retinue of courtiers, the sandstone brick carried with similar ceremony and dignity to that afforded to the Ark of the Covenant in Indiana Jones.
As usual, there wasn’t a great fuss at the stone once again being stolen, probably due to what’s become an open secret in Scotland.
Firstly, when it was repatriated in 1950, a duplicate was immediately manufactured, sandstone being an easy material to work with. When the authorities once again opted to steal the stone and take it south to Westminster Abbey, they snaffled a decoy stone placed at Arbroath Abbey with the location leaked to the police. The duplicate stone had been manufactured by a small business, better known for their gravestones.
Unusually, even while Prince Charles may be happy sitting on top of a rock which was once destined to decorate a grave, the real and original Stone of Scone was quite different and remains missing. It was jet black, slightly magnetic, and described as having fallen from the sky, a perfect description for a large meteor, the sort of thing royalty would attach some importance to.
Rather neatly, this brings us to Barclays, something which pretends to be a bank share yet often feels like something quite different. When we reviewed Barclays three weeks ago, we’d given criteria for an initial rise to 163p. The share price, quite grudgingly, took until the very end of April before hitting our target level on the final day of the month. We were not amused, especially as the price didn’t exceed our 163p target, the rise fading out in the opening minutes of Friday just 26/100th of a penny below our target level. The pace of the price rise, since April 11th, was spitefully similar to the Baku F1 “race”.
The situation now is almost encouraging as above 163p should next trigger price recovery to an initial 176p with our secondary, if the initial is exceeded, now calculating up at 186p. Each one of these ambitions is liable to prove game changing, finally. Once again, Barclays share price would discover itself loitering above the Blue downtrend on the chart, a line which dates back to 2007. Movement such as this should prove significant to the long term, making a future calculation of 292p a surprisingly viable hope.
Our alternate disaster scenario requires Barclays to slither below 140p, risking a trigger movement to provoke reversal to an initial 121p with secondary, if broken, at 97p and hopefully a bounce.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 9:14:17PM | BRENT | 79.34 | 78.07 | 77.1 | 75.97 | 79.5 | 79.9 | 80.665 | 81.53 | 79.33 |
| 9:16:56PM | GOLD | 1995 | ||||||||
| 9:19:16PM | FTSE | 7864 | ||||||||
| 9:21:56PM | STOX50 | 4350 | ||||||||
| 9:24:42PM | GERMANY | 15938.3 | 15912 | 15869 | 15821 | 15962 | 16013 | 16032 | 16149 | 15925 |
| 9:26:42PM | US500 | 4165 | ||||||||
| 9:29:04PM | DOW | 34071 | ||||||||
| 9:31:19PM | NASDAQ | 13218 | ||||||||
| 9:33:51PM | JAPAN | 29256 |
1/05/2023 FTSE Closed at 7870 points. Change of 0%. Total value traded through LSE was: £ 7,525,342,837 a change of 5.53%
28/04/2023 FTSE Closed at 7870 points. Change of 0.5%. Total value traded through LSE was: £ 7,130,992,980 a change of 35.22%
27/04/2023 FTSE Closed at 7831 points. Change of -0.27%. Total value traded through LSE was: £ 5,273,731,128 a change of -19.3%
26/04/2023 FTSE Closed at 7852 points. Change of -0.49%. Total value traded through LSE was: £ 6,534,580,339 a change of 22.98%
25/04/2023 FTSE Closed at 7891 points. Change of -0.27%. Total value traded through LSE was: £ 5,313,341,670 a change of -9.21%
24/04/2023 FTSE Closed at 7912 points. Change of -0.03%. Total value traded through LSE was: £ 5,852,631,583 a change of -1.53%
21/04/2023 FTSE Closed at 7914 points. Change of 0.15%. Total value traded through LSE was: £ 5,943,468,959 a change of 7%
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:BDEV Barrett Devs** **LSE:GKP Gulf Keystone** **LSE:GRG Greggs** **LSE:HIK Hikma** **LSE:NWG Natwest** **
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Updated charts published on : Barrett Devs, Gulf Keystone, Greggs, Hikma, Natwest,
LSE:BDEV Barrett Devs. Close Mid-Price: 500 Percentage Change: + 1.32% Day High: 502.4 Day Low: 493.5
Above 503 calculates with the potential of 543 next with secondary, if bet ……..
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View Previous Barrett Devs & Big Picture ***
LSE:GKP Gulf Keystone Close Mid-Price: 135.8 Percentage Change: -0.07% Day High: 136 Day Low: 126
Target Met. If this would now discover an excuse to start trading above 15 ……..
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View Previous Gulf Keystone & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 2818 Percentage Change: + 0.64% Day High: 2848 Day Low: 2782
Further movement against Greggs ABOVE 2848 should continue acceleration to ……..
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View Previous Greggs & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1841 Percentage Change: + 4.01% Day High: 1887.5 Day Low: 1800.5
In the event of Hikma enjoying further trades beyond 1888, the share shoul ……..
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View Previous Hikma & Big Picture ***
LSE:NWG Natwest Close Mid-Price: 262 Percentage Change: -3.75% Day High: 263.9 Day Low: 252.8
Target Met. Now below 250 hints at a visit to an initial 247 with secondar ……..
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View Previous Natwest & Big Picture ***