Barclays plc Stock Forecast
Strong day for Barclays plc stock price on Thursday rising 6.73% to £204.00
(Updated on Apr 25, 2024)
The Barclays plc stock price gained 6.73% on the last trading day (Thursday, 25th Apr 2024), rising from £191.14 to £204.00. During the last trading day the stock fluctuated 6.55% from a day low at £194.00 to a day high of £206.70. The price has risen in 7 of the last 10 days and is up by 11.09% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 million more shares were traded than the day before. In total, 153 million shares were bought and sold for approximately £31.19 billion.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £204.42 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 35.56% during the next 3 months and, with a 90% probability hold a price between £249.04 and £277.11 at the end of this 3-month period.
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BARC.L Signals & Forecast
The Barclays plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £189.47 and £182.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 14.30%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Barclays plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £191.14 and £180.78. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Barclays plc finds support just below today's level at £191.14. If this is broken, then the next support from accumulated volume will be at £180.78 and £173.80.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £12.70 (6.55%) between high and low. For the last week, the stock has had daily average volatility of 2.80%.
Our recommended stop-loss: £196.45 (-3.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (BARC.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Barclays plc to open at £201.57, and during the day (based on 14 day Average True Range), to move between £198.93 and £209.07, which gives a possible trading interval of +/-£5.07 (+/-2.49%) up or down from last closing price. If Barclays plc takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £191.14, some £12.86 (6.30%) from the current price of £204.00, our system finds the risk reward attractive.
Is Barclays plc stock A Buy?
Barclays plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.896 Strong Buy Candidate Upgraded
Predicted Opening Price for Barclays plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £201.57 ( 1.19%) | £204.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BARC.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 214.27 | 5.03 % | |
| R2 | 209.42 | 2.65 % | ||
| R1 | 206.42 | 1.19 % | ||
| Current price: | 204.00 | |||
| Support | S1 | 196.72 | -3.57 % | |
| S2 | 193.72 | -5.04 % | ||
| S3 | 188.87 | -7.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 204.00 | |||
| Support | S1 | 191.14 | -6.30% | |
| S2 | 180.78 | -11.38% | ||
| S3 | 173.80 | -14.80% |
BARC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Apr 03, 2024 | £5.30 | 2.81% |
| 2 | Feb 15, 2023 | Feb 23, 2023 | Mar 31, 2023 | £5.00 | 3.43% |
| 3 | Jul 28, 2022 | Aug 11, 2022 | Sep 16, 2022 | £2.25 | 1.31% |
| 4 | Feb 23, 2022 | Mar 03, 2022 | Apr 05, 2022 | £4.00 | 2.72% |
| 5 | Jul 28, 2021 | Aug 12, 2021 | Sep 17, 2021 | £2.00 | 1.09% |
FAQ
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