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Geng,
have you spotted / do you have an opinion on the abundance of higher SP GAPS on the Works / WRKS chart?
Seems to be a popular high street shop waiting like a coiled spring to re-open.
Only fly in the ointment being whatever pushed the SP down originally before CV.
Looks to be a lot of big GAPS higher up of the TA chart waiting to be filled,
what origially pushed the SP right down here?
The shops always seemed busy when I paid a visit, before CV 19/20/21.
Sept 2018 GAP SP162-168
May 2019 GAP SP 100-118
Aug 2019 GAP SP 86-89
Nov 2019 GAP SP 57-76
The Feb / March 2020 GAPS were filled on the SP rise since Nov 20.
Don't under estimate the potential for environmental, social and corporate governance (ESG) policy
to decimate an SP.
There has been lots of chatter about the BOD's / BL's move into greener energy options.
Whilst this may not be the preferred option for many share holders,
and not ideal for high profits and dividends,
to ignore the potential negative impact of ESG on SP would be naive.
Take a look at the ESG destruction of the BATS and IMB share prices over the past 5 years,
despite circa 10% divi yields,
it has been devastating to many long term holders.
I was one, it took a lot of trading up and down last year to get out of the mess.
ESG activist share holder groups are a reality,
they are targeting companies, funds, pension schemes etc,
and they are effective in achieving their divestment aims,
regardless of the negative economic effects it has on share or pension holders.
I won't post links to examples of II / fund evolving ESG commitments,
there are just too many,
hit the Google search if you want to see what awaits us.
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.
Agree with Smithy,
RSI has been heading south,
wouldn't be suprised to see SP hit the 38.2 Fib at SP 297.
If that kicks off the stop loss dominos game then Fib 50 is at SP 288.
1 day chart Fib TA Feb (low) to March (high).
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.
Good call Drun at 2797.
SP briefly touched 2800 today,
and appears to have closed above the 61.8 Fibo TA support line for BATS at 2778.
RSI today is about 68 / 69 (almost overbought),
so possibly a little steam left for Monday.
Been a good week for BATS and holders.
I'll be looking for the RSI to reduce back to about 30 (oversold) as my next buy signal for a trade.
GLA.
Geng!
Slightly off topic, but Geng you we're brave posting on IAG about the gap over there.
IAU chat is rather defensively lively to say the least and definately not receptive to TA.
I held back pointing out the gap to them when I spotted it previously.
Also resisting pointing out the big ARB gap waiting for when BTC retraces.
Thunder,
we could indeed see BATS keep rising,
but then again some random unexpected RNS from the BOD could pop-up and ruin the day.
I spent 10 years holding supposidly solid UK FTSE shares long,
never again,
it was all just too painfull and dissapointing in the end.
I prefer to now trade TA established SP movements,
keep active control of my investments,
and bank the profits.
Exited NG earlier today as the SP movement was getting messy.
Will be back in BATS for another trade when the SP retraces at some point before the next ex-divi date.
IMB has a nice GAP waiting to be filled at SP 1466-1485,
but still to me from a TA view has a small risk of SP retrace to a lower Fibo support line,
and hasn't firmly established a new SP / divi trading range.
Took my money off the table at breakeven today,
too many unpredictables playing with the SP for me at the moment (USA, bond rates, gas network sell off etc),
and the SP keeps knocking on that 805 door!
Some you win, some you lose.
CSDI and Jr nice trading, always good to bank the profit when you can.
I'm also out as my sell order kicked in yesterday.
In at 2550 out at 2775,
after costs 8.2% ROI,
if only all trades where that easy!
The 61.8 Fibo TA resistance line for BATS is at 2778,
it was bounced back from it yesterday,
the SP needs to break up through 2778 today if the SP in order to push onwards.
Just needs NG to sort itself out now!
As Geng pointed out on Friday,
there is GAP to fill at SP 337 - 340.
The SP very briefly crossed the Fibo 61.8 (SP 325) at one point on Friday.
RSI on my 1 day TA chart on Friday was 70.
So may still have some steam left.
Will the GAP get filled on Monday?
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.
The S&P 500 is itching for a proper re-rate.
My TA of the S&P suggests sooner rather than later.
There are some great GAPS that need filling on S&P chart to bring it to its senses.
But the stimulus chqs keep flowing into new RI hands !