Barclays Share Price Outlook: Here’s Why It May Plunge Below 130p Again

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Written By: Abdullah Sarwar

Nov 23, 2023, 16:39 GMT 16:39

Summary:

Barclays share price char: LON: BARC is gaining acceptance below 142p which may turn out to be very bearish in the near term.

Barclays share (LON: BARC) price is showing a minor loss despite an emergence of buyers below 139.8p. The shares of the British private lender have corrected 2.03% this week and there could be more downside after a failed attempt to reclaim the previous range lows.

On Thursday, the UK shares showed some recovery as the sellers showed exhaustion. The benchmark FTSE 100 index gained 19 points after sliding since the start of this week. This improved the market sentiment.

However, Barclays shares failed to didn’t show any significant gain or loss till press time as the shares changed hands at 140p on the London bourse. In addition, the shares seem to have gained acceptance below 142p which was the previous range low, as shown in the following chart.

As a result, Barclays share price forecast appears to have taken a bearish turn and the most likely scenario now appears to be another retest of the 132p to 128p demand zone.

LON: BARC Chart

This post was last modified on Nov 23, 2023, 16:39 GMT 16:39

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.