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on a run up or down in the shares, it doesnt matter which when talking gaps, as gaps can be filled from top or bottom. as for predictions, nobody knows for sure. tailoring your portfolio to the trends of the market is all you can do and within that try to maximise your returns by adjusting when runs are outsized. for example im now out of oil shares, i feel the run is overdone. i was cutting until last week, when i sold my last portion. i think we retrace a bit from here, but i may be wrong. however, i have been investing long enough to know not to chase. patience is what is required.
I presume that's called " Hedging your bets "
I had a sell trigger on at 178 that I forgot about last week, so it dumped half my holding near the close today ( I'm only a minnow to most so don't worry, no tsunami's coming lol )....
I could not believe this is so high tbh, thus putting the sell limit on... Naturally this goes' against the grain for most, although naturally I'm hoping for a decline / pull back to buy back in again..
I would say that I hope it continues to rise for the LTH's, but hey, every man for themselves ;o)
It might go up or go down!? I am sorry, but this is really funny prediction.
im not able to post charts that would visually explain a little more but if you pull up the daily chart of barratt on tradingview or something else, you will see how the shares reacted a few times when the gaps on the way down to march lows were filled, when moving back up. the shares reach the gap, sometimes overshoot, the proceed lower over the following sessions. all the while the trend has been largely higher, yet buying adding and reducing, you could compound your gains. its quite tricky to get every move right, probably impossible, but the odds of a reaction from a gap are much higher if the shares have been on a run (up or down) into the gap. rio tinto is another one that reacted well following the filling of its gap to 58 quid from mid feb. gaps work best when in the direction of the prevailing trend or after a strong run when coupled.
Thanks Jack, thats good to know. I was worrying it may stay the same!
It was more is there any typical movement when a gap is filled? I have since seen the post furter down that gives Sigma's view.
It means it might go up tomorrow, or it might go down.
So what does that mean for the share price? Does it reduce now the gap has gone. As you can tell, I dont really understand all this Technical stuff :)
SP just crossed 178 - GAP closed!
partly self fulfilling prophecy and partly a look at where supply and demand may come in based on past events. so while charts look at the past only they can give you an idea going forward.
Each to their own but I find it funny how people seem to think & predict a share price through a chart. I think it will go up next week then fall back because a chart predicts it. If only it was that easy eh. How a chart can predict what people are thinking is beyond me!!
I think "usually-right" may have called it.
From the TA chart using a 3 point Fibo TA extension (Sept low - Dec high - Jan low),
SP may cross the Fibo 61.8 line (SP 173) and may fill the waiting 175-177 GAP next week,
then possibly retrace back to the Fibo 50 (SP 165) or Fibo 38.2 line (SP 157) for a pause,
to see how the return to schools and increased testing turns out.
Anyones guess after that!
The above is NOT financial advice - DYOR.
Man some investors really should stick to the lottery. The trade is UT (UncrossingTrades) not a buy.
a 33 million quid buy at the end.....woohoo
Been a decent couple of weeks for the price. I think we will see £2 break out in the next 6 months and then maybe back to 230 in 2022. More hoping than any fact :)
a gap to fill to 178 then maybe a pause and some retracement.
Thanks MrA.
The market gave BARC, and a few others, a slap down today.
But,
BARC closed today at SP 166 and sitting nicely on top of the Fibo 78.6 support line
of the Fibo retrace TA of the original SP drop from Dec 19 - March 20,
so there might still be some life left in it yet.
RSI was knocked back today from 70 to 64,
but this situation has happened before on 28th May 2020,
where the RSI then bounced around between 60 - 70 for a few days
as the SP resumed it's upward creep until 8th June when it touched the Fibo 50 line.
Will the end of the week treat BARC well,
or will the market keep its boot firmly on top of things again!
Sigma1, your TA is greatly appreciated.
Red day today and looking like a Red day tomorrow?
Barclays put in the ground work over the last 10 years and is now starting to see the rewards. The investment bank is running rings around even the big US banks.
Sigma, great TA analysis mate, you called it spot on last week.
I didn’t think it would push onto 170 I must admit! But as you say, fundamentally I’m not convinced, although I am a rookie!
So an assault on 175 tommorrow?!
Correction:
I did it again, mixed up my MA colours!
55 MA running nicely under the 20 MA and both turning north.
MrA and Rookie,
it looks like I was on to something then.
Today's candle braking out of upper bolli band.
Bolli bands turned nicely upwards.
20 MA running nicely under the 55 MA and both turning north.
RSI moved up to 70 and still following the profile of run up to the previous mini bull run.
So the TA chart shouts mini bull run brewing.
But the fundamentals so no no no, get down shep!
UK shares, never a dull day.
Evening causal, hmmm... looks like the US Stimulus package appears to be somewhat of a damp squib for the FTSE. Although, technically, not signed off I.e. it has been voted through the House of Representatives and now needs to be voted through the Senate. With the Democrats under orders to vote for it and with a slender majority in the Senate, the US Markets have accepted it is going to happen, hence the 700 point / 2.29% jump fo the Dow Jones as I type. As for a future short term entry point for me... l’ll continue to watch from the sidelines.
Good Luck my Friend.
Afternoon MrAlturistic- stimulus as said ,thought it would have done more to market, just waiting now for correction hard to say when to get back in . but might even get few mini slides, over a period of time.
MrA,
sure I'll keep posting on BARC.
BARC doesn't really fit the simple ebb and flow model I'm targeting,
usually found with the FTSE dividend "kings",
but I regularly run my eye over other FTSE share charts to see if anything jumps out,
usually gaps waiting to be filled, or in the case of BARC the current curious pattern repeating.
I had a good run up with BP from the 200 low to 300 top and learnt a lot from some great TA guys along the way.
So always looking for like minded people to enchange TA ideas and thoughts with.
Having looked at BP again today, there is a hint of the elliot wave theory (up-down-up-down-up) pattern there,
followed by down, up, down correction, with good correlation to the Fibo lines,
which I hadn't considered before.
With BARC following Friday's market upset the RSI has turned downwards,
and as Rookie points out Friday has a down ward indicating shaped daily candle,
so it looks like the pattern, if there was one, has been broken.
Sigma1, I would encourage you to continue to post your TA Summary and future movements of travel.
As for the USA, if only we all knew? Sunday night is always a strange time to look at the futures market as they can turn positive to negative or vice versa overnight. The Dow Jones has seen two consecutive reasonable tumbles i.e. circa 560 point reduction at c.o.b. on Thursday 25th Feb then an additional circa 470 point reduction at c.o.b. on Friday 26th Feb. If this is followed by a similar drop by 9.00pm tomorrow, Monday 1st March, then I sense watching from the sidelines may be sensible... unless you have an appetite for “shorts”?
All imho please MYOC and GLA