BARC.L closes below its opening price unable to hold early session gains

Barclays (BARC.L) Technical Analysis Report for Jul 13, 2018

Highlights

BARC.L closes below its opening price unable to hold early session gains
BARC.L finds support at 20-day moving average
BARC.L closes higher for the 3rd day in a row
BARC.L rises to highest close since June 28th
BARC.L closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment:
28% Bearish
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, BARC.L ended the week 1.71% higher at 189.68 after edging higher £0.18 (0.09%) today. Today's closing price of 189.68 marks the highest close since June 28th. Trading £0.72 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for BARC.L

Volatility

Friday's trading range was £2.04 (1.07%), that's far below last trading month's daily average range of £3.42. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to the key resistance level at 191.38. After trading as low as 189.16 during the day, the share found support at the 20-day moving average at 189.19.

Trend

Although the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 191.38 where further buy stops could get triggered.

Conclusion

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

Market Conditions for Barclays

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