Barclays shares: What future holds after incredible recovery
After the election and 34% rally since the summer, our analyst explains what the shares might do next.
16th December 2019 09:04
by Alistair Strang from Trends and Targets
Share on
After the election and 34% rally since the summer, our analyst explains what the shares might do next.
Barclays springs to mind and their surprise elevation on Friday with the election result.
Our previous report suggested criteria to drag Barclays up to 187p, a feat it achieved on Friday. We now need to examine its potentials with greater scrutiny.
A detail of enormous importance and one worth watching for is the risk of the market finding an excuse to reverse Barclays below ‘blue’ on the chart. This could easily create one of our GaGa movements, a Gap Up/Gap Down.
The formula we employ with this sort of nonsense indicates should Barclays share price now be trashed below blue (presently 183p), it’s going to find its way down to 110p eventually.
At present, absolutely nothing suggests this is coming but it’s worth remembering something important about politics. Often, something which looks good on the day, looks rather jaded, when examined in detail!
For now, we’re pretty impressed with the immediate share price performance and now, movement above 188p is supposed to be capable of an initial 204p.
Despite the two quid level visually suggesting a ‘glass ceiling in waiting’, we’re not so sure, as above 204p should make 224p difficult to avoid.
In summary, quite a lot of hints are saying this intends 204p. Beyond such a level and we start to develop doubts.
Source: Trends and Targets Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang, or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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