Barclays (BCS) Crossed Above the 20-Day Moving Average25 Aug 2021 21:23
This is a small editorial that I have ‘copied and pasted’ and actually refers to Barclays dual listed stock of BCS that trades on the American markets. I felt it was relevant on the basis that, broadly speaking, the movement of both the US and UK stocks replicate each other when it comes to the direction of travel.
—————————————————————————-
What That Means for Investors.
“From a technical perspective, Barclays (BCS) is looking like an interesting pick, as it just reached a key level of support. BCS recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average (SMA) is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this simple moving average (SMA) very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages. Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
BCS has rallied 6.7% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests BCS could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account BCS's positive earnings estimate revisions. There have been 3 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well. Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on BCS for more gains in the near future.
https://www.nasdaq.com/articles/barclays-bcs-crossed-above-the-20-day-moving-average%3A-what-that-means-for-investors-2021
Sign In
Follow the stocks
