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https://www.ii.co.uk/analysis-commentary/are-barclays-shares-safe-above-uptrend-ii526127
'By a spiteful 0.22p, the price did exceed our initial target, creating a situation where above 160.22p should provoke an initial 169p with our longer term secondary, should this level be exceeded, now calculating at 187p'.
Morning Bhavik
Yes another fantastic proverb to share "The trend is your friend" lol
As already shared a few times now Im targeting 170's off the back draft from 135, had to nurse the SL from tight to wide a few times, couple of closures and re entry's on R of sticky 200 EMA .
As Hannibal used to say "I love it when a plan comes together" waiting patiently since July, this last run has been a rewarding peach.
Really must crack on as this LSE is a bad distraction lol.
Have a constructive, profitable day
Regards W'
I confess Bhavik I don't get charts, but have yet to see one posted on this site that delivers what is predicted. It has been a pretty disappointing couple of days for Barcs and a fall I didn't see coming, after the stellar day on the American markets a couple of days ago. Having reached 1.62, it now seems to be falling back to the low 1.50's (hope I am wrong), rather than kicking on to the chart predicted 1.69. Still I recognise it can be argued that in getting to 1.69 there will be bumps on the road, just as it can be said there will be good days on a fall back to the 1.40's. My take on it is that having done well to climb to 1.60 from a position of around 1.35 during a recession, it is running out of steam. And without forward momentum, investors don't like the doldrums, thus precipitating a fall. Hopefully some good global or economic news can inject some momentum early next week.
The underlying business seems to be very solid and the share price underperformance is, I think, more driven by sentiment that any reflection of that business performance. I notice that NWG now has a higher market cap than Barclays and yet its 9 months profits are only slightly above 50% of Barclays and that's after Barclays has suffered the over-issue costs. But for that fiasco, it's figures would be astonishingly good. I don't think the relative share price under-performance is sustainable in the long term. It has a better geographic spread with 40% of earnings in dollars , an investment bank that is performing well plus the retail banking. If anything, that diversity should justify a premium over its peers. - particularly if Barclays starts dishing out the cash. It is claiming a 10.5% pay-out for the last year taking into account buy-backs which sounds pretty chunky - though that may exaggerate things as it is the net of new issuance buy-back figure that really counts. . If it can make total pay-outs in the 10% region going forward the price will have to react at some point or it should take full advantage and really try to drive down the number of shares in issue. Charts have their uses but underlying performance is key at the end of the day.
Thanks badjob. Interesting your comment re. Natwest. I was only thinking how poor Barcs performance has been in the last couple of days compared to the other UK banks and noticed how Barcs had fallen nearly 1% today, whereas Natwest rose 1.75%. No obvious reason for it that I can see, other than the sentiment point you make. We'll see what next week brings.
It wasn't that long ago Barc and NW group had a parity share price and now NWG are £1+ up on us...I've definitely backed the wrong horse in the banking world..Hoping Barc become a take over target for someone...????
What is worth noting is that NatWest has just overtaken Barclay's in terms of market cap - £31bn v £30.7bn.
I wouldn't pay much attention to the actual shareprices - NWG have had a couple of share consolidations, the most recent a couple of months ago which has shoved their shareprice up a bit.
Their relative P/E ratings are different - NWG - 9.5% while Barc is lingering at 5.09%. Barclays is too low for a company that registered a profit of £8.4bn earlier this year.
NatWest though did give the punters a special dividend this autumn - 16.8 pence a share.