Can Deutsche Bank shares replicate Barclays rally?

TL;DR

Barclays experienced a bearish trend in 2019 but showed signs of a possible reversal, with a target of around 170. Deutsche Bank, despite its negative reputation, may see a potential head-and-shoulders reversal pattern, with a target of 950 to 1000 Euros.

Transcript

hello it's John Burford with chart of the week for Monday the 6th of January kicking off the new decade and the new year and wishing everyone a very prosperous new year this is just a one more addition to my review of 2019 it with Barclays which is probably my standout call if you remember I was bearish from many many months and in September I disc... Read More

Key Insights

• 🤘 Barclays showed signs of a possible reversal with a surge above a significant trendline and a momentum divergence on the daily chart.
• 🍉 The 170 target for Barclays was met, presenting an opportunity for short-term traders to take profits.
• 🤕 Deutsche Bank, despite its negative reputation, may see a potential head-and-shoulders reversal pattern with a surge above a blue trendline.

Questions & Answers

Q: What were the key indicators that signaled a possible reversal for Barclays?

The key indicators for Barclays were the plunge below the significant blue trendline, followed by a rapid recovery above it, and a momentum divergence on the daily chart. These signs suggested a possible reversal and a valid buy signal.

Q: What was the original target for Barclays, and has it been reached?

The original target for Barclays was around 170, as mentioned in the analysis on September 9th. It has been validated as a line of support, with a recent gap opening. Therefore, the target has been met.

Q: Why is Deutsche Bank considered one of the most hated banks?

Deutsche Bank has faced a lot of negative press and a collapsing share price, which has contributed to its negative reputation.

Q: What is the potential target for a head-and-shoulders reversal pattern in Deutsche Bank?

If Deutsche Bank experiences a surge above the blue trendline, it indicates a potential target around 950 to 1000 Euros.

Summary & Key Takeaways

• Barclays had a bearish trend in 2019 but showed signs of a possible reversal with a surge above a significant blue trendline.

• Deutsche Bank, despite its negative reputation, may experience a potential head-and-shoulders reversal pattern with a surge above a blue trendline as well.