BCS stuck in downward channel. FX probe doesn't help.
Barclays and other world banks are currently battling a probe regarding their manipulation in the forex markets. Unlike other banks, Barclays has refused to settle and wishes to battle it out. This could have long term negative implications for Barclays. The loss of a license would be a painful disaster.
Technical:
Barclays has been stuck in a long established downward channel for over a year now. The stochastic indicator has been behaving in a very sinusoidal manner and the recent sell signal in the stochastic indicator suggests we are headed back to the resistance line. Wait for a cross in the 10 Day EMA and the 21 Day EMA for a more reliable confirmation. My low price target is $13.10. My highest price target is $14.86-$15.26.
Technical:
Barclays has been stuck in a long established downward channel for over a year now. The stochastic indicator has been behaving in a very sinusoidal manner and the recent sell signal in the stochastic indicator suggests we are headed back to the resistance line. Wait for a cross in the 10 Day EMA and the 21 Day EMA for a more reliable confirmation. My low price target is $13.10. My highest price target is $14.86-$15.26.
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