Barclays Plc (LSE:BARC), someone throw a ball for it…

#Brent #DAX All dog owners are guilty of “the pretend throw”, tossing something over the dogs head in the hope it chases after a feint, until the point when the owner is given the dread suspicious side-eye. Our own Golden Retriever was once so gullible it got to the stage where she doesn’t “do” balls, insisting on a football and absolutely nothing smaller. We’re a little afraid we may be about to fall victim to a feint from Barclays as the share price has been ticking an unpleasant number of attractive  boxes recently.

 

The first box to be ticked came from our report on Barclays three weeks ago. We’d dangled the potential of a very possible bottom price level at 136.3p, along with a strong potential for a bounce is such a level was achieved. Real life saw the share weaken to 138.5, then start to bounce. We always like it when a price bounces just about a drop target level as this often signifies some hidden strength.

The second item of interest came on Thursday of last week, the price gapped DOWN at the open and on Friday, it was gapped UP. This GaGa dance step is one we find frequently attractive as it’s generally a pretty solid suggestion the market in about to indulge a cunning plan for price gains.

And the third item is one we’re a little less optimistic about, the share prices behaviour in relation to the Blue downtrend since February of last year. For some reason or other, the price is once again respecting this downtrend.

 

And thus, similar to a recent ‘foster’ dog called Badger, we’re primed and ready to chase brainlessly after Barclays share price, if the market opts to hit a pretty obvious trigger level. Above just 151.7p (last Fridays high) calculates with the potential of a lift to 155.5p with secondary, if bettered, working out at a comfortable looking 158.6p. And it’s this secondary target which is provoking plenty of self doubt, representing a new “higher high” for the share, one which implies a pretty strong suggestion of a return to a future long term 173.1p and a price level not seen for just 12 months!

Hopefully we’ve not taken the bait, providing a set of targets while the market giggles behind a concealing hand. But for things to start going wrong, Barclays now needs slink below 145p to risk a path to 142.3 with secondary, if broken, a disheartening 139p.

Our suspicion, ever the optimists, is we’re about to see the first ball thrown in a path to an eventual 173p.

 

 


FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop
9:33:08PM BRENT 7737.8 7680 7579 7301 7825 7888 7935 8020 7774
9:35:28PM GOLD 2039.4
9:40:04PM FTSE 7631.8
9:43:39PM STOX50 4661.8
10:07:22PM GERMANY 16933.4 16890 16850 16792 16934 16965 16995 17030 16912
10:10:02PM US500 4951.2
10:13:08PM DOW 38628
10:15:22PM NASDAQ 17594.2
10:17:38PM JAPAN 36388

 

2/02/2024 FTSE Closed at 7615 points. Change of -0.09%. Total value traded through LSE was: £ 4,604,656,485 a change of -16.86%
1/02/2024 FTSE Closed at 7622 points. Change of -0.1%. Total value traded through LSE was: £ 5,538,356,181 a change of -5.22%
31/01/2024 FTSE Closed at 7630 points. Change of -0.47%. Total value traded through LSE was: £ 5,843,417,633 a change of 22.29%
30/01/2024 FTSE Closed at 7666 points. Change of 0.45%. Total value traded through LSE was: £ 4,778,161,303 a change of -12.39%
29/01/2024 FTSE Closed at 7632 points. Change of -0.04%. Total value traded through LSE was: £ 5,453,884,268 a change of -16.87%
28/01/2024 FTSE Closed at 7635 points. Change of 1.41%. Total value traded through LSE was: £ 6,560,613,072 a change of 58.4%

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:EXPN Experian** **LSE:EZJ EasyJet** **LSE:GKP Gulf Keystone** **LSE:ITRK Intertek** **LSE:OCDO Ocado Plc** **

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Updated charts published on : Experian, EasyJet, Gulf Keystone, Intertek, Ocado Plc,


LSE:EXPN Experian Close Mid-Price: 3304 Percentage Change: -0.54% Day High: 3370 Day Low: 3294

In the event of Experian enjoying further trades beyond 3370, the share s ……..

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LSE:EZJ EasyJet. Close Mid-Price: 575.2 Percentage Change: + 2.93% Day High: 582 Day Low: 569

Target met. In the event of EasyJet enjoying further trades beyond 582, t ……..

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LSE:GKP Gulf Keystone Close Mid-Price: 100.7 Percentage Change: -1.37% Day High: 103.9 Day Low: 98.4

Weakness on Gulf Keystone below 98.4 will invariably lead to 94p with sec ……..

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LSE:ITRK Intertek Close Mid-Price: 4465 Percentage Change: -0.36% Day High: 4548 Day Low: 4465

Target met. All Intertek needs are mid-price trades ABOVE 4548 to improve ……..

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LSE:OCDO Ocado Plc Close Mid-Price: 505 Percentage Change: -2.17% Day High: 532.4 Day Low: 494.6

Target met. If Ocado Plc experiences continued weakness below 494.6, it w ……..

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

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