BARCLAYS SWINGS BACK TO PROFIT IN 2018 AFTER 2017 LOSSES; STOCK RISES ABOVE MA5
Barclays Plc’s stock is currently trading at 161.20-higher by 0.20% as compared to its previous close.
The bank earlier today reported a lower-than-expected profit for the fourth quarter. The company reported a full-year net profit of £1.4 billion for 2018, swinging back to the black after 2017 losses. The bank’s EPS excluding litigation and conduct for the full year was 21.9 pence.
Barclays reported its 2018 core capital ratio at 13.2%, unchanged from the previous year. The company along with other European banks has been under pressure due to the uncertainty surrounding Brexit. The bank set aside a Brexit provision of £150 million in its 2018 results.
On the technical front, the current price is above the MA5. The %K has crossed the %D from below to the upside at around 22% and suggests that the market can move in the upward direction. The RSI is currently at 54.63% and suggests that the market can continue trading sideways.
TRADE SUGGESTION- LIMIT BUY AT 161.00 TAKE PROFIT AT 162.80 STOP LOSS AT 160.00