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.
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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