Barclays Price: BARC Gaps Upward, Holding a Positive Shooting Move

PUBLISHED: Feb 20 2024 @ 05:41 | Comments (0) | More info about Azeez Mustapha

There has been a production of uprising forces in the Barclays Plc shares market (LSE:BARC) as the market gaps upward, holding a positive shooting move.

The underlying support line of 140 has been at the bottom of about two different trading intervals, indicating that it is the key value protecting against additional declines. Buyers are probably going to add catalysts in order to break through the 160 resistance level, which has been closely approached. Given the current situation, a bullish candlestick has been created, designating point 150 as the primary crucial zone in the direction of a panicked reversal action.

Resistance Levels: 165, 170, 175
Support Levels: 140, 135, 130

If there happens to be a reversal of the northward gap price situation in the BARC Plc stock against 150, should buyers execute a new order against it?
The trade line of 150 appears to be the crucial spot for any selling activity made successfully against, which will create more decreases given that the price has been gapped northwardly, holding a positive shooting move tightly toward the point of 160.

The stochastic oscillators are indicating that there is still buying pressure by crossing northward into the overbought area and giving a strong signal to the north. A large bearish candlestick must form around the 160-point mark in order to refute that indication. The 50-day and 15-day EMAs are both moving very narrowly below the 150-day moving average, making a vague attempt to cross over to the upside. This suggests that, in the upcoming business cycle, investment values may appreciate even further.

Learn from market wizards: Books to take your trading to the next

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.