RE: Are the lights changing to amber ?15 Jan 2023 09:54
Good Morning Posters Old and New, Mr Wolf, JayK, et al,
What a great start to the year! Friday 13th proving NOT to be unlucky for the Barclays share price.
My ‘light touch’ charting in addition to my guesstimate and pure good luck of indicating the share price could reach180p. Albeit, to arrive the following day after the full year results of Wed 15th Feb 23 appears to have arrived somewhat early! A classic case of premature elation? Although entertained, no Carry-on double entendres necessarily required at this juncture… ha,ha,ha.
Looking at the trend, assuming 180p can now be held and not broken for another 4/5 sessions, a.k.a the Amber Lights that MrWolf refers to, then indicates to me a potential more positive inching forward of territory to the next ‘round price’ hurdle of £1.90. JayK also mentions the landscape is not looking particularly healthy at the moment and that the tide can change very quickly - agreed. That said, short term I still see forward movement. I historically work in 10p brackets, no science as such just personal, historical and emotional behaviours I’ve seen with this share for many, many years.
The share worked really hard on Friday to breach and hold above 180p. Doing the hokey-cokey and dancing round it for some considerable time. Normally, I would expect at these ‘round price’ milestones, and support the theory that a lot of retail investor sell/buy limit orders are triggered. Hence the constant knocking on the door and then eventual breakthrough once all orders have been cleared. I’m sure I remember David Buik talking about this ‘predictable behaviour’ on LBC some years ago?
Looking at (to me) some (not all) Key Financial Calendar events to come in the next 4 weeks and prior to results day, if you were to make your own binary judgement calls on each event and whether you believe they will have a positive/negative effect on the Barclays Share Price short term, this may help on your call whether to hold, fold or simply walk away? Apologies for that clumsy long paragraph.
For me, with finger always close to the ejector seat button, I will continue to monitor and see how things pan out next week. But my gut feel tells me there may be, even with some profit taking and slowing of momentum, a further upward trajectory to come post UK CPI announcement on Wednesday.
I stress, these views form my unfounded, amateurish outlook and opinion are do NOT act as any form of guidance whatsoever. Please make your own choices and undertake your own research.
Good Luck All. Regards, MrA
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