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Every opinion is valid. I've been long on all my trades in the last month because the markets have been bullish. As we know its overall bearish market but we are a fair amount above low, we've seen bull rallies in bear markets before, but I do feel like we have seen the floor. Could be wrong though, but analyse daily as markets change.
Have a good weekend everyone.
I see this testing 150 in the short term, could go to 1.40 by the start of q4. I don’t see how anyone would want to be long in this current environment? I actually see sub £1 being inevitable in the not too distant future,maybe H2 next year when all the defaults start piling in. Who knows, it all depends how long they can keep making everything look rosey until reality kicks in. One things for certain though, they will blame it all on Russia
JayK : Yes on my daily chart support is 162 / 160 and its holding so far , after that its 150 & 140 .
@rasl5 - You don't necessarily have to buy low. Support has formed at 162, resistance is at a 171. Still making higher lows. I'd be happy with seeing a close over the 200MA at 171 and that forming as support before going long. I don't think right now its going to go lower than 162.
JayK: thanks . i agree , have cancled 157 buy order , will wait .
@rasl5. It's definitely worth starting with the daily chart, it paints a really good picture of the stock, whether its trending and which direction, or if its in a range or compression. You really want to know these before dropping down to a smaller time frame. If your swing trading personally I don't drop any lower than the daily. Also see what the FTSE and US500 / SPY are doing trend/range wise. I recommend the use of 50/100/200 MA and Volume, sometimes VWAP. Volume seems to be overlooked, if you see a rally of a stock on low volume it gives you a bit more information on if you want to join that long, on high volume its a better trade etc. Getting in the habit of drawing your own trend lines and support / resistance lines is really good because you start learning the price action too, eventually you don't draw likes, you just see. As mentioned in my previous posts support is 160-162 in my opinion, if it breaks that and your purchase at 157 gets triggered its a bad trade, you want to then wait to see if the next support zone gets hit, or if the now 160-162 resistance can be broken, if it breaks support it means its weak, you don't want to buy in this scenario, again price action, on the smaller time frame once support is broke are you seeing stacked red candles, what's the volume like etc. Hope that helps, sorry I was meant to reply to your post but got side tracked. Happy to talk about technicals all day long!
@Rookie, I really cant see that happening, 2008 was catastrophic collapse of banks, that won't happen now, yes we could see more poverty due to inflation but a doomsday scenario isn't on the cards imo. GL.
Porsche I totally agree and it’s refreshing to finally see people see it like I have for so long. This crash is going to make 2008 look like a walk in the park, currency is about to collapse. I actually can’t believe Barclays has faired so well with the current economic outlook but that must be the share buy backs at work. I shorted this back at 1.80 but I’m really thinking about opening a big short on any rise from here. I can’t see this getting anywhere near £2 for years
Uneventful scenarios of various factors can worsen or improve the outlook ut without doubt a good investment for the pension pot xxx
JayK : i use tradingview 30m chart with support/resistance indicater , i have these since about 21 years but added lot more at 180 , 150 ,and 140 ,, i retired 4 month ago and as i have time now i have sold and re bought 2 or 3% lower , last sell i missed rebuy by .5p , if get filled 157.5 then next time will check daily chart also ,. i came to lse chat to learn and i am reading all your posts and all posts from MrAltruistic and few others, sure will be usefull and better trades in future .
Barclays is not as multinational as you might think.
Most of the revenue and profits come from the UK and America (mostly old Lehman business).
Over the years exposure to Europe, Africa, Middle East and Asia has significantly reduced.
Africa exposure reduced due to sale of ABSA and only now are we seeing a slight uplift in exposure within Asia.
Porsche - Barclays is a multinational company - why do you you think it would be seriously affected by Brexit?
In your opinion, your predicting a crash worse than the pandemic which put the world on hold.
The brexit fiasco then covid and now the collapse in sterling, coupled with terrible UK productivity figures, mush worse than europe and US inflation ( slated 18pc by Spring now ) and parabolic taxes, this is it I think, looks to me way worse than 08 because brexit had already done so much damage. When the bad debts start rolling in and the property market craters Barc shares will be .80p, its a poorly run bank anyway, the share price has been a disaster, pretty much like the whole ftse 100, for ten years. It can only crater with whats coming down the tracks. Likely an emergency budget shortly, BOE mandate is removed and an emergency government next year, Tories cannot continue being this wrecking ball.
rasl5 No worries, what are you using to decide when to buy an sell, technical or just taking a guess?
Yes from my entry at 1.45 (50K shares). I do think Barc is strong and if it holds this area and moves back up hitting the 200 for the 4th time, every time we test a resistance level it gets weaker. I may reload around this Level if we hold.
JayK, thanks for your kind words. I have no issue in you stating '...that perhaps you should consider doing this or that..." ultimately the decision is mine but any additional views always help. Yes, as i've discovered in the market, currently more so than ever, have you simple strategy but understand that it should not be set in stone. Whilst a purchase and exit price should be pencilled in, to use the sat-nav analogy, ifyou can see bumos in the road sometimes itis best to "re-calculating".
Glad to see that you you cashed out and hopefully/also made some profit?
Good Luck My Friend. Regards, MrA
JayK : thanks , i sold all barc inc my core position on 09 aug to rebuy lower ,bad trade as usual it go up after i sell and will go lower after i buy, i have order to rebuy 157.50 ,just below support and gap .
@rasl5 - On the daily chart keep an eye out for the 160 area. We have the 50MA and 50% retracement coming. The area we are in now could provide some support as last time we dropped from 170s, the 160/162 area provided heavy resistance, this could now offer support. Lets see where we close today, ideally want firm support before entering.
Nice trade there Mr A. I'm glad you waited and looked at the technical before exiting. I don't like to directly say do this or do that, but all you needed was the technical price action and 200MA in the end. Everything is reflected in the price action, its good to know what's coming on the calendar though. Rather than exit when you initially said, the patience gave you time to see if we would break with 200MA, watch the price action in the candles and realise I've seen a triple top, a long price reaction wick around the 200MA, unable to close above in a few daily bars, bias not negative, close trade. I'm sold my stock also, unless we break the 200MA Barclays will remain a swing stock for the short term. Longer term when the bear market ends, interest rates are higher, I'd think banks from this level would be a good stock to hold.
MrA: thank you for reply .
Good Morning rasl5, thank-you for your kind words. In short, I arrive at Buy price based on immediate circumstances and ‘trends’ at the time rather than a definite set price of X for the future.
I take into account the direction of the share price and a time to buy based on and including but not limited to:
a) My very ‘light touch’ chartist theory.
b) Anticipation of events yet to happen e.g. geo-political macro as well as concentrated uk events.
c) Timing and expectations of the next set of Barclays Results.
d) Timing and expectations of the next set of US Bank Results
e) Timing and expectations of the next set of Central Bank Interest Rate Announcements
But most importantly, gut feel and plain simple luck!
I’m not sure if this was the answer you were expecting or indeed helps? None the less, there it is.
Good Luck My Friend.
Regards MrA
Well done MrA on your barc trade , wher is next support to re buy ?
Roofer61, thanks for your kind words. Once they proved they couldn't hang onto 170p, even with 2/3 days of an opportunity to get back, i then decided to bank profits. Still holding a long term lump at 1.20 but looking to gamble/trade short term if the price falls to a level I think is worth a punt.
Good Luck My Friend.
Regards, MrA
Mr A, well done....enjoy your profits, noticed a full page advert in Metro paper adjacent to crossword by claims firm Bringback, loans taken out for solar panels from Barc n several other be entitled to thousand of pounds in compensation, stated....add this to the other clangers Gla