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As per my comments last week about the bull flag forming on the daily chart which is a continuation pattern, looks like its broke out and is continuing. To everyone who is still holding, great stuff, a lot of doom and gloom last week just because it stopped moving up and people started selling. Nothing is for certain, but lets see if we can close above 210 today, its certainly a very strong bull candle today. ATB, have a good week!
Absolutely possible.
Rookie
Using "history repeating itself" we could just as easily hit 2.90.
Sold another third of mine, seems to be on the downward trend, only made 13p per share but better then being 30% down like earlier this year
@Let1tbe - TA is a visual representation of what buyers and sellers are doing with regards to a particular instrument, nothing more nothing less. How we interpret that for our own trading decision is up to the individual, it doesn't represent manipulation, its just data.
I'm not sure 150 is coming but it doesn't seem to be breaking out of this trading range. Possibly because there is nothing much going to happen till q2 results so the share price is likely to drift until then. Wrt valuation Vs other banks barc is still very much discounted Vs their peers. Let's see what they announce at half year on divi and earnings, until then trading this share is likely to be a good strategy.
History repeating itself is.
180p is also my re-entry point, based purely on gut feeling.
What will get it there? Probably another scandal.
History is not the greatest yardstick for investment decisions.
It’s definitely not a dead cert, but it really can help identify entry and exit points.
I’m looking for 180 in the short term
I'm never sure about TA, cos to even talk about it implies market manipulation surely, i.e defending stops that may take it through that support or resistance, anyway that is a whole other conversation, and it is rarely accurate except in hindsight , or when traders 'want' it to be.
Frustrating day for barc today given all other banks have risen well, I suspect looking back over the 6 month chart barclays have risen possibly unpropotinally (almost 50%) compared to lloyds and scb both below and hsbc nwg both above, both those guys with higher earnings, maybe market trying to level it out
Who really knows what goes on, but it sure ain't always about supply and demand.
Hi JAYk.
I’m keeping my TA a bit more simple, rsi is overbought and macd looks like it’s about to trigger a downtrend (but hasn’t yet) and we are at a major resistance level. That alongside the current state of everything I think this is a great position to be short.
I don’t like talking too much about shorts on the BB because I don’t like talking down peoples investments, however last time we were at this level I said £1.50 would be seen before £2.50 and I still feel the same way now.
That being said, I could be completely wrong so DYOR. ATB
Sorry thats ment to say *also now a flag forming*
@Rookie, hope your well. Yes there is consolidation on the Daily chart right now, and that's all it looks like imo. Pull back wise I guess your looking at the last high of 195 where there was consolidation and a pull back? If any pull back i would expect 195 ish, which teams up with around 38% retracement which was a similar figure of the last pull back before this leg up. Right now its sat on the 23.6% so could this be a strong support level, I dunno be the consolidation candles look very tight, also not a flag forming on the daily chart, usually means the next leg up is coming. But anyhow thats just how i read it and have been completely wrong in the past! Best of luck.
The dow Jones did fall back considerably from its day high, maybe that's why barc has fallen back today
I must be looking at different charts to everyone else? All I can see is a pull back due.
I agree, but it's clearly struggling today!! May even fall below £2...as much as I hope not!!
Fair play Moby. Like you I have been in this for years. Still have a fair few but will be sticking around a bit longer.
I have also been having a little play with CVS https://www.lse.co.uk/SharePrice.html?shareprice=CVSG&share=CVS-Group that has plunged from the heights of £20+ to below £10 in last 6 months or so due to a pending CMA enquiry into UK Vets. AIM listed. Like this it forever seems to get stuck in a zone, so just waiting for a breakout!
Good Luck and pop in and say Hi :)
Best of luck with your investment choices moby you could be making a wise choice.
If we can break out of this 205 area happier days are ahead.
BARC looks like its threatening to breakout here. Its trying to leave a channel its been stuck in for years
Any recommendations on US stock to buy atm ? Thank you
@Moby77 - Hi there M' sorry to see your off.
Wise move though, far more profitable shares out there atm.
Barclays are far from out of the woods just yet.
As they say "One door closes and another opens" though I'll bid you a farewell in the scripted words of V.J playing Big Chris "It's been emotional" lol Keep well and wish you profitable trades ahead.
Regards W'
Good Evening Wolfey. Great to hear from you. I was wondering whether you were off on a world cruise with Mrs W as we have not heard from you for a while. As you say lots of newbies on here adding their optimistic enthusiasm.
Having reached the dizzy heights of £2, I am out. I can't remember a time when I didn't have Barclays shares. Maybe I have jumped too soon but I have been here abouts many times and regretted not quitting whilst I was winning. The big boys are controlling this share (and maybe many other shares too) and even though Barclays have sent out noises about their dividends, history has taught me that anything can happen. April 2020 taught me that nothing is as it seems so all in all it was time to get out.
I would like to wish the Board the best of luck and good wishes for this share and now I am out, I wouldn't be surprised if it soars like an Eagle. GLA