Barclays shares backed to bounce at this level
After running his software again, independent analyst Alistair Strang identifies the point at which the high street bank's shares should attract buyers.
26th October 2026 07:28
by Alistair Strang from Trends and Targets
When we reviewed Barclays (LSE:BARC)three weeks ago, we provided a drop target of 402p, something which was finally achieved on Friday 23 October.
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When we view their share price movements in minute-by-minute mode, our 402p target level was clearly valid, the share price exhibiting an amazing fascination with our target level.
Despite breaking 402 a few times during the trading session, the market visually confirmed the accuracy of our three-week-old calculation, and also ensured the share price closed the session above our drop target, ending the day at 407p.
Source: Trends and Targets. Past performance is not a guide to future performance. Important: Trends and Targets charts only incorporate official share count consolidations, ignoring rights issues where investors have a choice as to whether to participate.
Our outlook for Barclays managed to be simultaneously both right and wrong. The share price hit target, it fell below target (after the initial hit) and eventually recovered above target.
Visually, the target proved itself brilliantly but what the heck are we supposed to take from share price movements? Our inclination is to present a scenario which might give the first clue as to whether any strength is evident.
Near-term movement exceeding 408p is supposed to attempt an initial target of 411.9p. It’s not a massive price movement but, if our initial target is bettered, our secondary calculates at 426p. Again, not a heavy accumulation of pennies but if 426p is bettered, we shall be looking at two ticks which indicate a bottom is in, therefore giving hope for the future.
In plain English, sufficient arguments will exist for us to create a scenario where the bigger picture now suggests beyond 426p should aim for an initial 440p with our longer-term secondary, if beaten, at 476p.
If we opt to delve into the forecast of a negative future, below 400p now risks promoting a visit down to an initial 396p with our secondary, if broken, a future 348p and ideally a bounce before such a level is achieved, ideally around 370p if some of our suspicions prove correct.
Should we be as brave as a weather forecaster and hold ourselves up for ridicule, we suspect Barclays is destined to experience a bounce at the 370p level.
Source: Trends and Targets. Past performance is not a guide to future performance. Important: Trends and Targets charts only incorporate official share count consolidations, ignoring rights issues where investors have a choice as to whether to participate.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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