Member Info for MrAltruistic

Unluckyme, sadly the US$ Stimulus Package turned out to be a damp squib as i previously suggested. The markets seems to have a mind of their own at the moment... c'est la vie!

triumph1, I’m not sure everyone is bearish here. I’m more neutral/hold I.e. I’m not currently confident enough to stake £35k at circa 175p hoping for a short term return of 10%. You make some fair points but I also see the bad news in the distance approaching very soon.

Good Luck my Friend

No conclusion as to the direction of travel for this stock. The only nice to know information are the monthly updates of Broker/Analysts Views:

Among the analysts covering Barclays, there are currently:

4 Buy recommendations
9 Hold recommendations
0 Sell recommendations

https://www.stockopedia.com/articles/which-way-now-for-the-barclays-share-price-197904/

Rookie1, £1.55? Interesting. I remain in the surprised camp of seeing it where it currently is circa 175p so quick and so soon. I wasn’t expecting it to arrive at this level until Q3. Hmmm... so much uncertainty out there yet the share price has gone deaf. At £1.55 the charts indicate this is a reasonable floor level and only concerns should arrive if it were to breach it.

Good Luck my friend

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?

saurus,

My greatest respect to you always. I try to post media articles I think are relevant to this share, even if I don’t necessarily agree with the content. I appreciate that there are more readers on here than posters but it is very encouraging to me of late to see some new names appear. Long may that continue. Whilst not consciously trying to be a referee on this is board, unconsciously i suspect I have become a custodian? I try my best to avoid disruptors, but will nip in the bud or challenge the odd troll if necessary.

I hope you get some answers to your questions with Alfie tomorrow and all goes as well as it can. Yes, we have both made a few shillings over the last 12 months and I genuinely wis( all investors a prosperous return on their stake.

Do you have a short term entry target? I’m currently in the Swing trading camp but on the basis the share price is not shouting at me at it’s short term direction of travel, I remain patient on the sidelines with a decent lump ready to place when I feel a little more certain.

Keep posting my friend and good luck.

Phuckerty, whilst your contributions may be small and occasional they always make me chuckle... definitely on the same humour wavelength as me. Keep the one liners coming my friend.

Bottom Line
Despite a drop in its share price in recent months, 2021 may have a brighter outlook for the Barclays compared to its 2020 result. Recent announcements by the UK government show that the economy will gradually open up as the vaccine rollout continues. The summer months may become a turning point for the economy as a whole, as individuals resume regular spending and companies can continue to trade again.
The dividend resumption could also become important. It is only a small start but could attract income investors back to the share price. Historically, banking stocks offered attractive dividend yields. If this returns, Barclays shares might benefit. Therefore, interested investors could consider buying the dips.

https://uk.investing.com/analysis/barclays-will-ftse-bank-benefit-from-economic-recover-200459588

Barclays share price forecast

The daily chart below shows that the Barclays share price has been rising. A few days ago, it moved above the important resistance at 158.40p. It has also moved above the ascending triangle pattern and the 25-day and 15-day moving averages. Therefore, the path of least resistance is a continuation of the bullish trend.

https://www.investingcube.com/barclays-and-lloyds-share-price-forecast-buy-sell-or-hold-shares/

Wednesday 3rd March 2021

SHARES in Barclays and other leading banks got a bump today, as the Chancellor announced a review of the surcharge.

This measure imposes an 8% tax on banking profits, on top of corporation tax.

With corporation tax rates heading higher, bank shareholders feared profits would be squeezed. That in turn would make it harder for banks to lend to support the economy.

Today Rishi Sunak said the “surcharge” is under review, though details were not immediately available.

Some in the City think smaller banks in particular should be given relief on the surcharge.

Barclays shares rose 6p to 168p. Lloyds shares are up 1p to 40p.

NatWest, still 60% owned by the government, saw its shares rise 3p to 189p

https://www.standard.co.uk/business/bank-shares-jump-on-review-of-tax-surcharge-b921979.html

Sigma1, your TA is greatly appreciated.

Red day today and looking like a Red day tomorrow?

Ryan1066,

Q: “What’s the cause of the today’s rise (not that I am complaining)”

A: Bank shares jump on “review” of tax surcharge

I’ll post the link when I find it...

Alistair Strang (Another TA Chartist) who summarises with:

“Next above 166p allows us to calculate the potential of continued growth to 181p with secondary, if exceeded, working out at a pretty solid-looking 190p... To be fair, closure even below 155p would now give early warning of some alarm.”

https://www.ii.co.uk/analysis-commentary/barclays-shares-are-things-beginning-change-ii515283?utm_source=newsletter&utm_medium=email&utm_campaign=NEW-DLY-ENGAGE-afternoon_round_up_010321%20(1)&utm_content=newsletter&spMailingID=12361566&spUserID=MzU1MTA2OTEwNzY0S0&spJobID=1710144671&spReportId=MTcxMDE0NDY3MQS2

A simple Technical Analysis piece sits within this link, indicating lines of direction both Up and Down depending on your “half glass” approach.

https://www.investingcube.com/barclays-share-price-struggles-to-stay-above-161-despite-sp-rating-upgrade-shares/

Evening All, a few media snippets to share tonight.

I don’t know much about the accuracy or quality of “The Armchair Trader” but the key paragraph for me was:

“Both banking stocks still have significant upside potential

In the case of both banks, much of the recovery momentum has been priced in, but both still have some significant ground to still make up. However they are likely to be driven further by returning positive sentiment around the state of the UK economy over the summer months”

https://www.thearmchairtrader.com/lloyds-bank-barclays-shares-forecast/

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.

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

Sigma1, welcome to the board.

Some great replies and wider contributions from Rookie1, JayK and Saurus. I am a great follower of John Burford and his approach to the markets using his theory of “Tramline Trading a practical guided to Swing Trading” https://www.youtube.com/watch?v=3OWxn7VX6x0 . In my opinion John is a real cute cookie who appears to know his stuff.

That said and perhaps as already alluded to, all approaches are NOT an exact science, if they were then we would ALL be millionaires and probably be sipping Martinis on a yacht rather that gulping coffee on the sofa whilst writing on this board?

I would confess to being a simple person and have found that by keeping things simple makes decisions clearer. Whether the decisions are the right ones, only time will tell? You can have too much information and then it just fuddles your brain. I am very much on the side of looking for trends, which surprisingly do repeat themselves.

My thoughts with Chartist theory and Technical Analysis is that they are great tools which can be used to help you make a decision but are NOT guaranteed. You can go into granular analytic detail or look for the simplistic potential repeating trends... I am definitely the latter.

In simple terms, my analogy is that the “theories” are like the future Weather Reports... if the wind blows this way, then the rain clouds move here then it should rain in the afternoon. Sometimes they’re right, sometimes they’re wrong. The stock market is prone to so many variables and inputs that when you sometimes 100% sure, you can be proven to be 100% wrong. There is more than one way to trade a share and depending on my individual trade will depend on my individual simplistic strategy.

In conclusion, I will refer back to my mantra... have a simple strategy and try to keep to it.

Not sure if this helps?

All imho please MYOC and GLA.

Looks like Barclays couldn’t make the 5 day positive run then? JayK and Rookie1, looks like some of the steam may be starting to be released as you both correctly suggested. Dow Jones took a reasonable tumble having just closed down (9.00pm UK time) by 561 points / 1.76%. FTSE100 Futures, unsurprisingly, looking red for the open tomorrow by 53 points / 0.80%... with the caveat that there are just short of 11 hours before the open so could deepen a little further? I’ll remain patient with my ‘L’ plates as a Swing Trader and see if an opportunity of circa 1.39p presents itself?

Good Luck All

Saurus, always a pleasure to read your posts. I hope Alfie is on the mend? I’ll undertake my media searches to see if I can find anything new to share and post but Barclays news appears a little thin on the ground at the moment.

Good Luck my Friend