Top Share Price Prediction: Barclays, Nio and Intel Momentum Favour the Upside

Summary:
• In this top share price prediction article, we look at the momentum on Barclays, Nio and Intel stock prices and why they will likely head up.

Equities markets are trading cautiously this week as the US elections take centre stage. However, I still believe that Barclays, Nio and Intel share prices are likely to stay on the ascending trajectory.

Barclays

Barclays share price has been on a strong uptrend in the last month, rising 11 percent during that period. In addition, it is up by 5 percent in the last five sessions, adding credence to the bullish view of the stock. As of this writing, Barclays share price was up by 0.16 percent on the daily chart and traded at GBX 243.90.

However, the stock price has struggled to find traction above the GBX 245.00 mark for the last two weeks, effectively establishing it as a resistance level. The UK banking sector is currently starring at the possibility of multi-billion pound compensation claims from customers following a recent court ruling against discretionary commission agreements in vehicle financing.

However, despite its status as one of the largest banks in the country, Barclays could come out with limited damage, as the bank halted vehicle financing in 2019. In contrast, the largest vehicle financier, Lloyds Bank could incur claims upwards of £450 million. Meanwhile, Barclays (LSE: BARC) announced on Monday that it has completed its acquisition of Tesco Bank in a £600 million deal. That has opened up a new revenue stream that could prop up earnings in the coming quarter.

Barclays stock price prediction

Barclays stock price will likely stay on the upside above the 243.95 pivot price. With the buyers in control, the first resistance could come at 244.65. But that barrier could be breached if the upward momentum strengthens, with the price likely to test 245.45.

On the downside, moving below 243.95 will favour the sellers to take control. That could establish the first support at 242.75. However, extended bearishness could break below that level to invalidate the upside narrative and test 242.00.

Nio

Nio stock price was up by 2.9 percent in the pre-market session on Tuesday, retesting the $5.30 barrier in the process. After its recent decline, the stock has found stability above the psychological $5.00 mark, which could provide traction for a stronger upside. In addition, news of China’s upbeat Caixin Manufacturing PMI data last week could signal recovery in Nio’s largest market.

Meanwhile, lawmakers in China are in a week-long meeting to deliberate on the nature and effectiveness of its economic stimulus program. The outcome of the meeting could provide clues on the economic recovery path and how it could impact the electric vehicle (EV) industry. That could inject fresh impetus into Nio stock price.

Nio stock price prediction

The momentum on Nio stock price favours the upside, with the pivot price at 5.28. With the buyers in control, the stock will likely move up to encounter the first resistance at 5.33. However, a stronger upward push could clear that barrier and test 5.36.

Conversely, moving below 5.28 will put the sellers in control. That could see Nio (NYSE: NIO) move lower to find the first support at 5.25. However, if the downward momentum strengthens, the price could break below the first support and render the upside narrative invalid. Meanwhile, the decline could extend and test the second support at 5. 21.

Intel

This will be a forgettable week for Intel as its stock gets delisted from the Dow Jones Index for the first time since 1999. The company’s stock price declined by 2.9 percent on Monday but was up by 0.3 percent in the premarket session on Tuesday, as investors continue to digest its surprise earnings forecast beat last week.

The forecast beating earnings have positioned Intel (NASDAQ: INTC) as a value stock, and buyers are likely to increase their positions in the company. The company is refocusing on its foundry business, and expects to generate upwards of $15 billion from that segment in the next ten years. It is currently building up its 18A production capacity and expect it to function by 2025. Also, it has recently signed deals with Amazon and Microsoft, signaling its ability to attract major corporate clients as the AI race heats up.

Intel share price prediction

The buyers will have the upper hand if Intel share price stays above the 22.64 pivot mark. With that, initial resistance is likely to come at 22.64. However, if the buyers extend their control, the price could break above that level to test 22.77.

On the other hand, moving below 22.54 will signal bearishness. That could find initial support at 22.41, but a stronger downward momentum could break below that level to invalidate the upside narrative and test 22.28.