Trends and Targets for 27/02/2019

Lloyds Group #DOW #CAC40 On this day in history, 26th February, Napoleon Bonaparte escaped from Elba, returning to France to regain power. Lloyds Bank, equally, has achieved something thought impossible, returning above the prior uptrend and now, the share price resides in the land of milk and honey, promising great things for the future. Apparently…

To get the good news out of the way first, the bank closed the 26th February at 61.9p. The RED uptrend (see chart inset) is presently at 61.658p. Generally, when a share returns above a prior trend, we regard this as a good thing, suggesting happy days ahead. For complex reasons, we just wish it had actually closed above 62p but, if we opt to suspect disbelief, movement now above 62.04p calculates as heading to an initial 65p. Our secondary, if such a level bettered, calculates at a rather less confident 67.6p

 

The reason for our hesitancy about reaching the 67.6p level is fairly simple. There’s the presence of the BLUE downtrend dating back to the start of 2009. Only if Lloyds actually closes a session above this trendline (presently at 65.679) does the share successfully remove itself from a region, where reversals to 41, then 31, and finally 21p are possible.

Our suspicion; the market intends to trap Lloyds in a holding pattern until such time the word clarity can be used in the same sentence as Brexit.

For light relief, we’ve painting a thick GREEN line on the chart, placed at the date Brexit is presently expected. Amazingly, it coincides with our initial upward target against Lloyds. This obviously means something, what exactly we’re unsure.

As always, there’s another side to the coin. Any reversal taking the price below 59.5p will signal it has all been a dreadful mistake with gloom once again ruling the day.

 

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

9:51:49PM

BRENT

65.73

‘cess

9:53:52PM

GOLD

1329.13

9:56:06PM

FTSE

7137

Success

9:57:41PM

FRANCE

5229.8

5196

5186.25

5165.5

5225

5240

5253.75

5262

5228

Shambles

9:59:52PM

GERMANY

11527

10:02:06PM

US500

2789.02

‘cess

10:06:27PM

DOW

26016

25955

25937

25835

26082

26159

26205.5

26289

26050

‘cess

10:08:46PM

NASDAQ

7106.45

10:10:29PM

JAPAN

21520

26/02/2019 FTSE Closed at 7151 points. Change of -0.45%. Total value traded through LSE was: £ 6,763,878,734 a change of 6.08%

 

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