Barclays price forecast: breakout ahead? Stock gains 1.74% on bullish momentum

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Barclays rises 1.74% to $395.05 today

Highlights

Barclays plc (BARC) surged 1.74% to $395.05, trading above MA-20 ($377.55), MA-50 ($375.58), and MA-200 ($328.94), confirming a bullish multi-timeframe trend.
Barclays secured a provisional license from Saudi Arabia’s Capital Market Authority to launch investment banking and global markets operations in Riyadh in 2026, led by Mohammed Al-Sarhan.
BARC is expected to remain range-bound between $392.68 and $393.45 over the next five days, with less than 20% probability of a price increase.

Middle East expansion advances as provisional Saudi license secured

Barclays plans to expand its presence in the Gulf region with the opening of a new office in Riyadh’s King Abdullah Financial District in 2026, after securing a provisional license from Saudi Arabia’s Capital Market Authority to launch investment banking and global markets operations in Saudi Arabia. This expansion, led by Mohammed Al-Sarhan, aims to deepen relationships with key corporate, institutional, and sovereign wealth fund clients across the Gulf Cooperation Council. The move marks a strategic step as BARC reinforces its investment banking footprint in the Middle East.

Conflicting momentum signals emerge as price tests psychological resistance

Technically, BARC remains in a robust uptrend, positioned above its short-, medium-, and long-term moving averages (MA-20, MA-50, MA-200). The closest dynamic support is near the Ichimoku Kijun line at $371.80, with resistance at MA-50 ($375.58) and the next psychological barrier near $400. Momentum indicators are mixed: while the daily MACD signals a strong sell, the ADX is neutral, and both RSI and CCI suggest a buy, though the Stoch RSI points to overbought conditions. BBP is neutral, and recent price action reveals moderate intraday volatility with continued strength toward session highs.

Sideways trading expected as upward breakout risks remain subdued

Over the next five trading days, BARC is likely to trade within a narrow horizontal range between $392.68 and $393.45. The probability of a price increase is very low, under 20%, suggesting a higher risk of a downward correction. The baseline scenario points to sideways movement between nearby support and resistance, but a bullish breakout could see the price push above $400, while a drop below $392.68 would increase the risk of retreating toward $390 or lower.

Anton Kharitonov, expert at Traders Union, notes that despite strong technical momentum and Barclays’ ambitious strategic expansion in the Gulf region, the probability of sustained gains above $400 remains limited in the immediate term. He sees the mixed technical indicators and overbought signals, alongside constrained upside sentiment, as signaling a likely consolidation or minor correction. "Base case remains sideways as long as $392.68 holds; if that level fails, I’d expect further downside in the short term."

Previously it was noted that Barclays entered into an agreement to acquire Tesco's retail banking business as the companies have also agreed to a long-term partnership focused on banking services under the Tesco brand. This transaction, expected to complete in the second half of 2024, will bring 2,800 Tesco employees to Barclays.

Source of Data: BARC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.