Barclays PLC : Resume of the uptrend
By Camille Chretien
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 302.15 | GBX 0 | GBX 289.6 | -100% |
Graphically, the security is in an upward trend on the medium and short term as shown by increasing moving averages in daily data. Prices are now supported by the 50-day moving average which could lead it towards the GBp 327.3 resistance.
Consequently, it seems interesting to take a long position on Barclays at the current price. The first objective will be the GBp 327.30 resistance. Once this level crossed, the security could reach to annual highs. A stop loss must be placed below the GBp 291.5 support in order to avoid a bearish reversal.