BARC.L pushes through 200-day moving average


Barclays (BARC.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
BARC.L pushes through key resistance level
BARC.L pushes through 200-day moving average
BARC.L ends the day on a bullish note closing near the high of the day
BARC.L pushes through previous session high
BARC.L rises to highest close since June 7th
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

BARC.L ended Thursday at 200.60 gaining £2.72 (1.37%). Today's closing price of 200.60 marks the highest close since June 7th. Closing above Wednesday's high at 200.15, the market confirms its breakout through the prior session's high having traded £1.10 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for BARC.L
Volatility

Thursday's trading range was £5.57 (2.82%), that's far above last trading month's daily average range of £3.79. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar. In spite of a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Breaking through the key resistance level at 197.88 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 202.55.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. Barclays managed to break above the 200-day moving average at 199.28 today for the first time since June 11th.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 203.40 where further buy stops could get triggered. As prices are trading close to June's high at 204.70, upside momentum might speed up should BARC.L mark new highs for the month.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Barclays
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bearish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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