Index/Security: Barclays PLC
Short Term Trend
Last indicator = SELL @ 1860p Level on 4/6/1999.
Trend still down - Since signal date by 5%.
Guides:
Black = Index showing BUY/SELL Arrows
Red
= 100 Day Moving Average
Blue
= 200 Day Moving Average
Magenta = Trend Channel
Observations
1. The SELL indicator of 4/6/99 is still in place.
2. The shorter term moving average is turning down.
3. Short term the price is stuck between 1600p - 1850p.
Long Term Trend
Observations
1. The price is testing the long term moving average.
2. The Uptrend since 1992 is still in place.
3. The Price is at the top of the Trend Channel.
Conclusion
1. The downtrend signaled @ 4/6/1999 continues.
2. The Price needs to hold above 1600p and preferably needs to rise above the 1900/2000p resistance level.
IF 1600p is penetrated, the price could fall 20% to the 1400p level.
Await a penetration of 2000p level before considering a purchase.
