Trends and Targets for 21/11/2018

Lloyds Bank #CAC40 #NK225 As always, we’ve been delaying our ‘monthly’ visit to #Lloyds (last month link here) in the hope it does something interesting. To be fair, it you regard watching a duck crossing the M25 as ‘interesting’, the share price is certainly worth watching.

When we last reviewed the price, we mentioned the possibility of a fake, short lived, bounce at the 55p level. In the last few days, this event finally took place and while the rebound to 56.09 was encouraging, we dare not ignore the fact the price actually did break the 55p target, almost hitting 54p during intraday trading. Similar to the duck on the M25, we don’t expect any bounce to have a chance as too many arguments now favour 52p with some rebound potentials. But of course, the Big Picture wants the price to bottom before 50p.

Our inclination is to regard both numbers as essentially the same, now taking the stance of expecting a bounce somewhere between 50 and 52. Visually it even makes sense.

To get out of trouble, the share price requires close a session above RED, 61p at present.

 

What happens if 50p breaks?

 

The longer term implications are truly unpleasant. Initially we suspect continued reversal down to 41p. If broken, secondary is at 31p. Neither calculation gives any real hope as being “bottom” but there is a strange phenomena occurring with reversals possible in 10 increments, all the way down to 21p. Due to 21p essentially matching the low of 2011, this alone would doubtless cause a bounce, despite the big picture calculation giving 5p as bottom.

For now, the best we are hoping is a rebound at 52p, ideally without any intraday traffic breaking below 50p. That would be ‘a bad thing’.

Chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:25:02PM

BRENT

62.64

Success

10:27:00PM

GOLD

1221.8

‘cess

10:29:49PM

FTSE

6915

Success

10:32:21PM

FRANCE

4922.7

4893

4840

4805

4947

4964

4974

5001

4908

Success

10:36:07PM

GERMANY

11047.44

Success

10:38:03PM

US500

2636.67

Success

10:42:02PM

DOW

24435.5

Success

10:45:07PM

NASDAQ

6515.1

Success

10:48:31PM

JAPAN

21215

21168

20957

20422

21535

21447

21546

21672

21250

Success

 

 

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