Annual Trading Forecast on Barclays (2015)

PUBLISHED: 10 Feb 2015 @ 08:57 | Comments (0) | More info about Azeez Mustapha

Barclays shares (LSE:BARC) are currently strong. The price was strong for the most part of the year 2014, though there were occasionally vivid pullbacks which allowed bulls to go long when things were slightly down and in the context of an uptrend.

Looking at the historical data, it would be seen that the best approach for this kind of market is to buy the dips. The price is currently above the EMA 21, while the Williams’ % Range period 20 is above the overbought level of -20. Clearly, buyers would have made money in this market; plus those who want to enter the market can wait for a pullback towards the support zones at 242.00 and 241.00 before going long.

The outlook on Barclays for the year 2015 is bullish and the price may reach the resistance zones at 280.00 and 300.00 eventually.

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