Top 3 Stock Price Prediction: Upside Prevails On Barclays, NatWest and Tesco

Barclays

Barclays Bank share price is currently weighing the momentum caused by combination of internal restructuring and mixed signals on shareholder returns. The stock was up by 2.12% and traded at 332p at the time of writing. While the bank continues with its buyback program, investors seem more focused on a recent leadership shake-up.

The promotion of two co-Chief Operating Officers following the exit of long-serving executive Alistair Currie is seen as part of the bank’s broader cost-cutting overhaul. This shake-up signals to the market that Barclays is serious about streamlining its international operations to drive profitability.

Barclays Share Price Prediction

Pivot: The stock pivots at 321.80p. Action above that level will signal control by the buyers. Breaking below it will shift the momentum to the downside.

Resistance: First resistance at 335.75p, second at 334.80p.

Support: Primary support at 329.30p. Action below that level will invalidate the upside narrative. Secondary support at 325.75p.

NatWest Group

NatWest share price edged higher by about 2.4% as of this writing, as it continues to benefit from a stream of positive developments. Investor enthusiasm remains strong following the UK government’s exit from its 17-year ownership stake, fully privatizing the bank. That symbolic milestone has given a boost to market confidence. For instance, Fitch recently upgraded the bank’s credit rating to A+.

Meanwhile, the prospect of a potential acquisition of Sainsbury’s Bank has also added an extra layer of interest among investors. Should the deal go through, it could create strategic value as NatWest seeks to expand its retail footprint.

NatWest Share Price Prediction

Pivot: NatWest share price pivot mark is at 484p and the momentum favours the upside to prevail.

Resistance: First resistance likely at 488p. Second resistance at 493p.

Support: Initial support likely at 477p. The upside narrative will be invalid below that level. Second support could then come at 471p.

Tesco

Tesco share price was also on the ascending trajectory at the time of writing, rising nearly 1.5%. The supermarket giant is benefiting from strong grocery sales momentum in the UK. This comes on the heels of recent data showing an increase in its market share from 27.8% to 28.5%. This retail performance has caught analysts’ attention, with many of them Tesco shares a “Strong Buy” rating.

Meanwhile, insider confidence is also helping push Tesco share price up. A number of its directors, including the CFO and independent non-executives, have made small share purchases recently.  Such moves that typically signal belief in the company’s future prospects.

Tesco

Pivot: Tesco share price pivots at 397p and the momentum calls for further upside.

Resistance: Initial resistance will likely be at 405p. Second resistance at 410p

Support: First support at 395p. Going below that level will invalidate the upside narrative. Second support at 392p.

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