The banking industry is likely to face further turbulence soon enough, thus creating a short-selling opportunity in Barclays, says Marcus Bullus at www.mbcapital.co.uk.
IC TIP:
Sell
The last time that its price tested its 200-day exponential moving average (EMA), the Libor scandal broke, sending the price sharply lower. With the price again testing this level, another reversal may occur, albeit not as dramatically. Go short, placing a stop-loss above the EMA.
