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Just seen this below on the Standard Chartered board and their SP went up by 10% at 1.30pm today and closed around 7% up…Could be some consolidations coming up to keep this sector on its toes…
First Abu Dhabi Bank PJSC ("First Abu Dhabi Bank") notes recent press speculation in relation to Standard Chartered PLC ("Standard Chartered", or the "Company"). First Abu Dhabi Bank confirms that it had previously been at the very early stages of evaluating a possible offer for Standard Chartered, but as of the date of this announcement, is no longer doing so.
RNS says no longer evaluating a possible offer
Even though I specified a price, it will not be a fixed number but an area, The reason I saw this as an area of resistance is that since March 2022 @ 178p, we had 4 tests of this area and then the price reversed, 3 test of 173, and within the group of daily candles 2 tests of 175/178. It also looked the same as previous rallys, long green candles with little wicks. This deffo looks bullish but considering its a bear market I think we are now used to these rallies failing.
If an area is resistance, and price breaks above it, usually a rally up and then a drop to this area which acts as support. Hence you like to see the price extend and stay above the area that is now support, then look for the next leg up.
I don't have a price in mind, I'm just reviewing as it moves. At the mo I'd say we are at a key area, was not expecting the FTSE to be so bullish, its also at a key area of resistance, so if this falls Barclays will likely follow, we are only 250 points of an all time high! Gut feeling is the FTSE will retrace and so will BARC, however technically you be on the bullish side until you get a sell signal.
Sorry for the long winded response.
JayK: If 173p does hold today and tomorrow, what do you see happening, from a technical perspective? I had in mind circa 180p for an initial slice, but am not wedded to it.
@ DB2014 - no one. Mr A said there is resistance at 172, I said there is a Quad Top at 173. There just zones for us chart traders to take extra interest in. The FTSE is a rocket at the moment, I'd like to see BARC closed above 173 and hold this tomorrow. Great for holders.
Good afternoon Bo77'
Yes well put, something most of us on here can relate to.
There is a lot of Qatari investments in the city funds, not just slapped into Newcastle FC.
Back when Barcs BoD basically referred to Amanda Stavely as "Just a brass" was not the wisest of cracks to make.
It does not take much effort to screw over Barclays SP, it does not need someone to drop a hefty short on them either.
In fact if you are out of favour with just a few funds, your screwed.
That Qatari bailout basically saved a few Barclays heads, whilst screwing over us share holders.
Barclays even held meetings and advised, as and when they should off load most of the kitty !
Google "John Varley, trio in court" the resentment was clear, the Corporation & The BoE did not get their fingers in the pie.
Just DYOR on sovereign wealth (UK offshore trusts and safe havens ect) The BoE / tax havens / The City Of London's Corporation. Then the "penny will drop"
How many on here thinks Sadiq Khan's the mayor of London, he's just in charge of out factory.
In fact Im sure the job title should actually be "Logistic and transport manager"
Nicholas Lyons / Lord Mayor Of London . . . He's the kiddie on the block.
When you are out of favour, "your out of favour"
Barclays may as well just re brand themselves as Berkley's Bank for all its worth, they do not have any "Names" behind them anymore (Berkley as used in a ****ney tongue lol)
Off now as they're stirring over the pond.
held these for many years ,and down considerable . am i right thinking that the city does not like this company ?, it gets going then someone kicks its teeth in ,,,or is it just me? . 'i liked its INDEPENDENT thinking one time and it made profits , but it seems THEY have never forgot or is it me ?
who is hiding with its boots on now i ask ,,,,ramp u may ,but bitten more than once ,,
good luck
Just adjusted my last 2022 Q3 &Q4 plot.
So, are you sitting comfortably ?
Short term we are almost on the initial 174 T for a inverse Head & Shoulders, picked up some momentum after taking the breather in Dec'
Longer term we are due to break out of this current Bull Flag and take us (including obvious E'Wave pattterns) up into the mid 2's.
Any conclusive closure above 220, opens up the front door to an old school Cup and Handle formation (which has a T of 366)
Putting my paw in the pot, im looking for 174 / short term patterns to play off.
Few months into all this "Woe and Foe" stabbing at 220.
Breakout of 220 . . . well, once we clear 220 . . . My fur will be statically charged each and every %
In fact as and when we see Barclays back over £2 ps and a half mast dividend paid out, what with the Coventry BS offering instant access (Accounts from £1 to £2m ) paying 3.25% . . . Fat Boy Bailey wetting his bed every night, all adds to Mr W' being a very content mutt lol
Roll on chaos, roll on carnage and a toast to us long termer's enduring such a "dog of a share" to have ever got caught up in.
GLA
Morning all and a Happy New Year too.
Well Mr A "Well done" with your recent trade, thats what I get for placing manual trades lol a - 0.40 off your automation lol
Just settling back into the action today myself, my Barcs looking very nice from 152.60's and I know we are still in that last 3W ' though Ive decided to leave these alone now.
Getting in and out from the mid 130's to my original October T of 170+ / plotted since July, executed in the last Q' this has to be one of the most enjoyable and predictable TA trades I have had run, near on pitch perfect in the last decade.
Fundamentals and T.A's need to be considered pre Feb finals, so im staying open, S.L set so far wide, wider than a pair of Elton John's flares when he starred in Pinball Wizard ;-)
. . . Few might be thinking "wtf is P'Ball Wizard?"
Anyhow Mr A' you do enquire of my weird train of thought, so im just sharing the fact, im not closing out, just yet.
Despite my alerts triggering 170+ this morning, we have a tad more fumes in the tank.
GLA to all holding atm, here's to this year being kind to us all and the BoD waking up and smelling the coffee !
Happy New Year all.
Thats been a very nice trade Mr A. Well done. I think you said you was looking for 10% at some point and you waited for the entry point. Whats the get out price (172?)
JayK, hope you and your growing family all had an enjoyable Christmas and Happy New Year? Is it just me or does it feel like a lifetime ago already? Yes, in fairness i made a good call. I sensed there was one more trade left before the year end so literally put my money where my mouth is. Good to see the 200MA surpassed. The direction of travel for this stock is up and saw the next ‘hurdle’ as 172p. At this rate it may be met by c.o.b Friday. Here’s hoping…
Any TA views from yourself or any other posters gratefully appreciated.
Good Luck My Friend. Regards MrA
@Mr A, hope your good! Nice purchase btw! I think your close of today will fine, even higher by the looks like it. Good think to note is that on this occassion we are free of the 200MA, 173 quad top, going be some mighty resistance if the price gets there, one would think.
I am hoping for at least 4.5 , maybe even 5p next mon
Hope everyone had a good break . Back to it, FTSE strong, US not so, FOMC today, and Jobless claims tomorrow. Markets do have stability which is good, still in a bear market and I don't see any clear indication of us getting of it anytime soon. Be good to see a divi hike though.
Good Morning All,
Some great points, thoughts and links posted over the last few days. Thank-you all.
A particularly good start to the year for the shares as of yesterday. I would gladly take a close above 165p today to inch towards a higher floor level. Bar any curve balls hoping to inch forward up until results day. I need to check the financial calendars for Inflation Announcement Dates and Base Rate Dates moving forward as these seem to have an effect on momentum, in either direction.
Good Luck All, Regards MrA.
Thanks for the info! :-).
https://seekingalpha.com/article/4567218-barclays-strong-fundamentals-growing-dividend
In-depth article on Barclays for 2023
Ex RAF?
Here is hoping that 2023 see's a steady but decent rise in share price. Not going to set targets but I would like to see a decent rise for BARC. Continued good luck to all on this board be you investors, potential investors or those just watching. Good luck and success to one and all. Per ardua ad astra!!!! Rgds Saintly
Does anyone know the impact of the miss selling yet?
This time last year we hit 2.17. That was with the uncertainty of war, inflation, unstable government and high energy prices not to mention more shares in issue. Then all the above hit and Barclays messed up at a strategic level (again). Surely given the above have now been played out with inflation and energy prices falling, the war not heralding the onset of WW 3 and the government showing a degree of competence we should be at least cruising towards these levels again ? Cue another board level strategic 'mistake'.
Certainly higher - but there are lots of variables, competitors, industry sentiment, news on the dividend etc.
I'll go for a conservative £1.72, certainly the real value is much higher.
We really break through the £1.60 mark that we keep bouncing off and close above that level for a few days.
Fiendishly difficult, given the timing of the next update and what I think the wider stock markets might look like at that point...but it is always fun to speculate, so put me down for 172p. I think we will go higher before then though. Let's see if I am wrong on both counts now :)
One hundred and eihttttttty - 180p