Will Barclays shares finally break above 300p?
It's been almost 11 years since shares in the high street lender last traded above 300p, but they're close now. Independent analyst Alistair Strang studies the odds of exceeding the big figure.
27th January 2025 07:52
by Alistair Strang from Trends and Targets
Three weeks ago, when we discussed Barclays (LSE:BARC), we were moaning about the weather here in Argyll. Now, having survived the January breeze, we have reason to do so again.
But focusing on the bank's shares again, we were dreading the price had enacted nothing since out previous analysis.
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Thankfully, the share had enacted a surge upward to our initial 289p level and seems to be messing around, visually proving our target level was viable.
Our demand for this sort of thing is for a price to exceed our initial target (289p), move a bit higher, then twist backward as if it were returning under the slimy stone it had been hiding.
In the case of Barclays, it needs below 285p to justify any slight concern as this risks triggering reversals to an initial 274p with our secondary, when (if) broken as a bottom of 263p and hopefully a solid rebound.
Should Barclays emanate some hope, above 300p now calculates as capable of a visit to 318p with our longer term secondary, if bettered at an eventual 361p.
Here's hoping!
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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