Barclays share price has been in the green for the past few days ahead of its quarterly earnings set to be released on Wednesday. The BARC stock jumped nearly 3% over the weekend. However, it remains more than 30% below its highest level this year. It has a total market capitalization of 22 billion pounds.
BARC Financial Stance
Barclays Plc is a British multinational universal bank headquartered in London, England. It is engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services. The company operates as two divisions, which are Barclays UK and Barclays International, supported by a service company Barclays Execution Services.
Barclays share price has been in the green for the past few days despite receiving fine threats from the FCA. Britain’s Financial Conduct Authority (FCA) recently announced its plans to fine Barclays 50 million pounds. This is due to its failure to show fees paid to Qatari enterprises during its financial crisis-era fundraising.
BARC share price will be in the spotlight this week ahead of its quarterly earnings this year. According to analysts, Barclays should easily achieve the top end of its 2022 net interest margin guidance. The firm will look to reassure on its £16.7 billion cost outlook for the year as it’s moving on from an expensive paperwork blunder in the US.
Barclays Share Price Forecast
The daily chart shows that the Barclays price has been struggling to propel upward for the past few days. It is moving along the 25-day moving average and below the 50-day moving average. Its Relative Strength Index is weak at 36.
Therefore, the BARC share price is likely to continue with its struggle to find direction. Bulls need to gather momentum to push the price past the 50-day moving average at 158.50p. However, bearish run will have the bears eyeing 130p as their next support level.