Annual forecast for Barclays (2021)

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Barclay’s Plc. stock (LSE: BARC) is currently caught in a consolidating movement within a bullish bias. The overall market movement is bullish in the long-term, and price is consolidating in the short-term.

ADX period 14 is around the level 30 (considerable momentum in the market), and the DM+ is clearly above DM- (bulls are stronger than bears). The MACD default parameters has its signal lines above the zero line; whereas the histogram is below the zero line.

It is good to stay aside now, given the current equilibrium in the market, plus the position of the MACD. However, price is expected to break out in favor of buyers, once this equilibrium phase is over. Then the MACD histogram would have gone above the zero line and the signal lines would be pointing upwards.

When that happens, there would be a Bullish Confirmation Pattern in the market, and since the outlook on BARC is bullish for this year, price may eventually target the resistance lines at 190.00, 1000.00 and 1100.00.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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