Barclays Share Price Dips After Outage of Its Banking App

  • The Barclays bank app went offline early Wednesday morning.
  • Outage lasted several hours, stranding customers.
  • Barclays share price drops 1.86% as of writing.

The Barclays share price dipped on Wednesday after its banking app went offline, leaving frustrated customers stranded.

Thousands of customers were left stranded on Wednesday morning after the Barclays banking app suffered an unexpected outage, leaving them unable to access their accounts. Infuriated customers began reporting the problem from as early as 6 in the morning. As of writing, the bank’s status page said that the app was now working but acknowledged that some customers could still have issues. 

Investors responded negatively to the issue, putting the stock on offer this Wednesday. Currently, the stock is down 1.86%, but downside has been limited by the bears at the bottom of the ascending channel on the daily chart.

Barclays Share Price Outlook

The intraday decline follows rejection from the 202.70 resistance. A drop towards the next downside target at the 191.50 price mark is only possible if the bears take out the channel’s trendline. Below this level, a confluence of role-reversed highs in August and September form the next target at 186.15, with 177.35 entering the picture on a further decline. 

On the other hand, continuing the advance in the Barclays share price requires a break above 202.70. Uncapping of this level leaves the stock with clear skies to aim for the 218.05 price mark (30 April 2018 high), with a potential pitstop at 205.15 (8 May 2017 low and 3 January 2018 high). Additional resistance is seen at 241.35 (17 February 2017 high). 

Barclays: Daily Chart

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