Barclays No Longer A Dead Bee

  • Barclays reported their terrific earnings
  • Key metrics: a dramatic drop in the conduct charges

Barclays reported their terrific earnings today and the pressure is finally off from the CEO who has been consistently under fire. Looking at the bank stock among its peer, it is trading at a much cheaper valuation.  The most welcoming news for Barclays's investors is in the company's key metrics, the dramatic drop in the conduct charges.
At last, the management has started to do what it is supposed to do and this has added a strong boost to the bottom line in the quarter. We do think that the CEO Mr Staley has delivered the best quarter for the bank as the company's revenue boosted by 15 percent in dollar terms. The music to investor's ear was in the company's forward guidance which confirmed that the company is committed to paying a dividend of 6.5 pence per share for 2018 subject to regulatory approval. The operating expense guidance isn’t out of control but we do think it can be still improved. In their forward guidance for the operating expense the range is £13.6 to 13.9 billion.  

From a technical perspective, the trend momentum volume and volatility TMV indicator, isnt showing any clear but bulls have some control of the price which is confirmed by the CCI. The support is at 177.30 and the resistance is at 212.45.