Barclays seems like it may have found some support around 141p after falling for 5 consecutive weeks. Now trading at around 156p a share.

Barclays seems like it may have found some support around 141p after falling for 5 consecutive weeks. Now trading at around 156p a share, it has moved above the 20-day moving average. The next level of resistance sits at 159p (50-day MA) and then at 167p (100-day MA). The 167p resistance will be a tough level to overcome with the UK leaning more towards a recession, in theory, a recession may have a negative impact on all UK stocks. The severity of the recession (if it happens) is unknown. The support for Barclays rests at the previous level of resistance along the 20-day MA, or respectively, 154p. Which is now acting as support. A move and close below it could see a slide lower towards the support levels sitting at 146p and then 141p. Looking at the technical indicators, MACD is flat and the RSI is neutral as it reads 49.