Barclays Share Chat (BARC)

Yep great analysis again Sigma, I’m very much seeing the same as what your are.

I still think a retest of fib 61.8 could be more likely than a push up through 185 with the latest news in europe, However with the share buy back now active who knows, barcs certainly has strong support at 180.

The DOW has to give soon and although I didn’t particularly think the FTSE is overvalued we all know when the Us sneezes, we catch a cold.

On the other side of the coin I sold my rental property this weekend at £5k over the asking price within 1 day and the first viewing.
I have never seen anything like it, the housing market is booming for sure. A lot of southern money moving up here to North Yorkshire because of what you can buy for your money in comparison, and I think the fear of continued lockdowns.
But again, that is stimulated through relaxed stamp duty and so just prolongs the inevitable to me?

Anyway I’m sorry for rambling on, I think the best position to be in right now is cash because we are still very much 50/50 as to where we are heading!
GLA

Thanks MrA.

The BARC SP tried to fill the SP 218-223 GAP from 2017 twice in 2018.
19 March 2018 SP 220
13 April 2018 SP 219

Historic TA data for reference:

SP continued downwards from April 2018 until Aug 2019 (SP 135).
Then began a good recovery, 55 MA nicely under 20 MA, bullish climb,
until Dec 2019 (SP 193) just above Fib 61.8.
1 day chart Fib TA for March 2018 (high) to Aug 2019 (low)

Then a slight pull back to SP 168 (31 Jan 2020) on Fib 38.2 line to catch breathe,
then began to continue the SP climb, with the 223 GAP calling from above.

Alas, in the modernised words of Robert Burns,
"The best laid schemes of mice and men,
go often askew,
and leave us nothing but grief and pain".

CV market collapse hit in Feb-March 2020.

Sigma1, always extremely appreciative of your Technical Analysis. Really appreciated, long may it continue. Thank-you.

MrA, Rookie, & co,
here's my current TA view on BARC.
I appreciate not everyone is receptive to TA,
and its not a crystal ball,
but TA is used by the MM and II's to set out their game.
So I'll put it out here and we'll see how it fairs over the year.

Currently the BARC SP is being bounced back at the 78.6 Fib (SP 185) resistance/support line,
from a 3 point Fib extension TA (Sept low, Dec high, Jan low).

The SP needs to push through and close above SP 185 (Fib 78.6) in order to continue upwards.

The Fib support level (Fib 61.8) below the current SP is indicated as SP 173.
The Fib support level (Fib 50) below that is indicated as SP 164.

If the SP breaks through the Fib 78.6 resistance,
the next Fib resistance line (Fib 100) is at SP 199.

Currently the SP is treading water and moving sideways in the
SP 184 - SP 172 Fib channel (betweeb Fib 78.6 & 61.8).

RSI is bobbing along around the 70 level.

In my view, the SP needs some news or event to force a move.

ISA filling season is rapidly approaching us,
which might provide upwards SP momentum.

USA S&P / DOW seem a little shakey again,
which always seems to pull down the FTSE with it.

The UK's continued delayed exit from furlough
could be holding back a very nasty shock to the system.

Longer term, who knows, not the chart, but it does provide some ideas.
There appears to be a GAP at SP 218-222 from April 27-28 2017.
Yes a few years back, but GAPS have a habbit of being filled eventually.

The above is NOT financial advice.
Always DYOR.

usually-right, some good observations. Thank-you for your contributions. 3 days or so of sideways trading, I’m not sure where the next dip/entry point is at this stage. Any ideas anyone?

Hi Saurus,

Yes, some 5 years underwater with BARC. Supposed to be a safe bet, Blue Chip. But it’s all about the Entry point, not your share that you hold!!

So this half just sold was at a loss, not large, but money sitting for 5 years with the attitude of “ Bu@@er me if I’m selling at a loss “, didn’t do me too well.

IMO I think BARC is overpriced considering the time it’s jumped to these levels.

I’m happy with the loss and having a little spare, if it keeps pushing up, I’ll consider selling the last lot at another 10%. If if if if

Hope you do well in the market Sir ( or madam), thank you for the polite comment, as I could have been easily blasted for wanting the retrace..

Hello again LeeRex,
If |I remember right you've been a LTH for quite a while so good to hear you're back in profit. I'm out now but happy for the profit net to spread a bit wider before buying in again.

All the best,
saurus

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.