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

Barclays (BARC.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (BARC.L as at Jul 13, 2018):

Daily technical analysis candlestick chart for Barclays (BARC.L) as at Jul 13, 2018

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.

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.

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.

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

Market Conditions for BARC.L as at Jul 13, 2018

Loading Market Conditions for BARC.L (Barclays)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Barclays traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!