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BARC Stock Declining: Is Barclays PLC Negative Revenue Troubling?

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BARC Stock Declining: Is Barclays PLC Negative Revenue Troubling?
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BARC stock lost GBP 12.64 of its trading price in YTD; at the beginning of 2023, it was trading above GBP 160, but a significant decline during March was seen in the trading price, and the price fell below GBP 135.  

Will BARC Stock Continue to Decline?

At the time of publishing, Barclays PLC stock was at GBP 150.88 with an intraday trading volume of 10.696 Million; the trading volume was majorly composed of active buyers. In the 52-week range, BARC stock’s highest trading price was 193.18 GBP, and its lowest was GBP 128.12. 

BARC Stock Declining: Is Barclays PLC Negative Revenue Troubling?
Source: BARC stock price chart from TradingView 

Barclays PLC has a market valuation of 23.069 Billion, and its shares’ average trading volume is 35.055 Million. BARC’s annual price target is GBP 228.82, 51.58% greater than the current trading price.    

BARC’s share price declined over 2% in a month, and a sharp decrease of 12.31% is seen in the six-month trading range. At press time, Barclays PLC stock was trading below the 20-day exponential moving average, and at the same time, it was trading below the 200-day EMA. 

If buyers continue their dominance over sellers, BARC stock price may surge in the upper direction and face immediate resistance of 152.08 GBP and following resistance of 156.70 GBP.  

BARC Stock Declining: Is Barclays PLC Negative Revenue Troubling?
Source: LON: BARC quarterly price chart from TradingView 

If buyers fail to dominate sellers, then a sharp decline might be seen, and BARC stock might face immediate support of GBP 148.68 and possibly next support of GBP 143. 

On July 18, BARC stock price surged over 2.13%, and from July 19 till July 26, stock prices were trading above 20, 50, 100, and 200-day EMA. The MACD indicator suggested a bearish crossover showing mild negativity. Moreover, the signal line is close to the MA line indicating buyers are trying to retain the momentum. 

According to TradingView, 13.45 BARC shares are free-floating and the remaining 1.941 Billion shares are closely held by the company’s financial backers or the board of directors. 

Barclays PLC Financial Updates

For Q2, 2023, Barclays PLC was supposed to report GBP 6.55 Billion, but it reported -4.30% less revenue than estimated figures, depressing its investors. The company has yet to release its financial report for the third and fourth quarters, and as per estimated, it might report 6.41 Billion GBP in Q3 and 6.20 Billion GBP in Q4 2023. 

Although negativity in revenue earning per share of the company surged over 7.90% in Q2, the estimated EPS was positive 0.08. The estimated EPS for the upcoming quarter is positive 0.07. 

In the financial year 2022, Barclays PLC reported 36.59 Billion GBP in revenue, from which its net income was 14%, and it earned a profit margin of 13.73%.

Barclays Plc operates as a bank holding company that provides retail banking, credit cards, corporate and investment banking, and wealth management services.  

Technical Levels 

Major Resistance: 152.08 GBP and 156.70 GBP.   

Major Support: 148.68 GBP and 143 GBP

Conclusion 

For Q2, 2023, Barclays PLC was supposed to report GBP 6.55 Billion, but depressing its investors, it reported -4.30% less revenue than estimated figures. On July 18, BARC stock price surged over 2.13%, and from July 19 till July 26, stock prices were trading above 20,50,100 and 200-day EMA. If buyers fail to dominate sellers, then a sharp decline might be seen, and BARC stock might face immediate support of GBP 148.68 and possibly next support of GBP 143. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

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