Why I'm optimistic about Barclays shares
8th August 2022 07:31
by Alistair Strang from Trends and Targets
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It's been a quiet August so far for stocks, but independent analyst Alistair Strang is interested in Rolls-Royce and Barclays.
August has now swung into full frustration mode, many share prices simply going through the motion during a period when no-one is particularly interested. In Europe, this must be an especially strange month on the markets, due to the very real nature of close-downs for the entire holiday month.
One thing worthy of comment, due to ongoing ridiculous fuel costs, has been the recent approval by US Regulators of the first Small Modular Nuclear Reactors. This approval is especially germane for Rolls-Royce Holdings (LSE:RR.) who’ve announced they’re looking at producing a Small Nuclear Reactor. While thinking this was exactly what a nuclear submarine was – and remains – we’ve been keeping abreast with Rolls Royce's work in this field.
All kidding aside, we’re mildly fascinated with Rolls Royce share price movements, entirely due to their nuclear initiative, and shall doubtless cover them in a headline analysis during the coming weeks.
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As for Barclays (LSE:BARC), hopefully they’re also capable of finally doing something useful during August. Near term, above 166p should make an attempt at an initial 169p with secondary, if exceeded, a rather more interesting 177p.
Visually, it isn’t difficult to understand why the secondary is of interest, taking the share price above its previous two highs and finding itself in a region where a longer term visit to 212p now makes quite a lot of sense.
Past performance is not a guide to future performance.
For everything to now go wrong, the price requires to slip below Red on the chart, presently around 150p, to risk triggering reversals to an initial 133p with secondary, if broken, at 119p eventually.
However, we suspect we’ve just seen early signs of an attempt to drive Barclays up to 212p, doubtless not during August.
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.
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