U.K.-based Barclays (BCS: sentiment, chart, options) confirmed that it's considering raising capital by selling shares to existing shareholders, while London's Sunday Times reported that the bank was close to receiving $7.8 billion from sovereign wealth funds in a deal slated to close within the next couple of weeks. The financial firm has implied that it won't resort to an emergency rights issue like rival HBOS stating the sale of shares would be at a premium to its Friday closing price of 318 pence. Meanwhile, BCS investors cheered news that the company's profit in May was "well ahead" of the monthly run rate of 2007.

In London trading, the shares of Barclays gained as much as 13%. Right out of the gate in the U.S., the stock has tacked on more than 4.75% from Friday's closing price of $25.07, flirting with the 26.25 level. Historically speaking, the security could use a boost; it's more than halved itself since falling off support in the 55 area in August 2007, led lower by resistance from its 20-week and 32-week moving averages.