BARCLAYS Becomes Cheap After Fall?

BARC stock became an analyst favourite because of its fair valuation and attractive dividends. However, on the technical charts price is currently range bound in a rectangular channel probably hinting a breakout in near future.

As per the simple wall street BARC stock currently trading at 46% below the estimated fair value and the revenue forecast to be grown by 5.32% per year. Moreover the earnings of the company have grown by 31.8% year on year for las5t 5 years and are trading at a good value compared to industry peers.

It is ideal to have BARC as a part of your portfolio since it is available at fair value after a sharp fall and pays an attractive dividend. However, the risk behind this investment is only that it could be a value trap.

Barclays currently trading at the price of 143.98 GBP with a nominal drop of -0.39% in previous intraday session. Currently, BARC has a market cap of 22.16 Billion GBP with an attractive dividend yield of 5.35%. The basic EPS of share is 0.36 and currently 13.457 Billion shares float in market.

BARC Stock Price Targets For 2023

As per TradingView, 17 analysts gave a positive rating to BARCLAYS PLC ORD GBP0.25. The maximum target is 319.95 GBP which is 122.22% up from the current level of 143.98 GBP. Additionally, the average price target is 228.80 GBP (+58.90%) and the minimum price targets are also on the positive side which is 169.98 GBP (+18.05%).

Out of 19 analysts, 10 gave BARC stock a strong buy, 8 gave a hold rating and only one gave a sell rating. Overall, the analysts gave a positive outlook on the stock.

BARC Stock Price Performance on the Technical Charts

BARC stock price is currently trading below the 20, 50, 100 and 200 EMAs. However, BARC stock price took multiple attempts to break these moving averages and was rejected from the 200 daily moving average, but the scenario shows the presence of buyers in the stock.

The MACD is in the negative zone with the MACD line at -2.8200 and signal line at -2.6656. However, the red histogram is showing signs of change.

RSI is below the median line but not in the overbought zone. Meanwhile, the RSI line (39.05) crossed the 14 SMA line (37.92) showing bulls’ presence. Overall, the technical indicators are on the neutral side whereas the MACD and RSI show signs of trend reversal.

Summary

BARC stock gives some positive hints to its investors. Analysts are fully positive on the BARCLAYS PLC ORD GBP0.25 (LSE: BARC) with good price targets and ratings. However,

The indicators are in negative territory but giving signs of trend reversals. Overall evaluation of the BARC stock hinting about the upcoming positive scenario.

Support and Resistance Levels

Support Levels: 140 GBP and 130 GBP.

Resistance Levels: 150 GBP, 156 GBP and 166.60 GBP.

Disclaimer

The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing