Lloyds for 24/07/2019

#FTSE #Nasdaq It’s that time of the month again when we can justify bad temper moods, a typical outcome when reviewing the UK’s retail banks. Lloyds, for instance, experienced a month with a 2p range, doing nothing useful. Similar to the UK’s outgoing Prime Minister and our national Brexit hiatus!

It would be nice to suggest the last month has at least dropped some clues for the shares future behaviour but frankly, it hasn’t. The immediate situation does, thankfully, give a slightly tenuous scenario which could give early warning for some upward travel.

Apparently, above 57.7p should bring movement to a stunning 57.91p. Even by day trade standards, this would be a pretty useless trading plan but the key signal will come if 57.91p is bettered. This will hint at the potential of coming upward travel. Above 57.91p calculates with the potential of 58.8p next. Beyond such a point and we’re showing 62.28p. Yet, this is all pretty useless if we zoom out and view the last 5 years…

The share price presently requires exceed Blue, presently at 64p, to give real hope for genuine price recovery. Nothing from immediate movements gives hope this will prove possible. Instead, the threat remains of weakness below 56p driving Lloyds down to an initial 51.8p. If broken, secondary is a “bottom hopefully” at 46.8p. Our use of the term “bottom hopefully” is careful, given achieving such a drop will bring Lloyds into territory where quite severe reversals are possible with the number 26p being bandied around as an ultimate drop target.

Perhaps our new “representative of real people” shall provide a breath of fresh air in Number 10? After all, across the water Mr Trump hasn’t exactly hurt the marketplace but we’re not holding our breath.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:19:00PM

BRENT

64.19

               

Shambles

10:20:29PM

GOLD

1418.29

               

10:22:02PM

FTSE

7564.5

7533

7512

7483

7578

7579

7604

7623

7546

Success

10:23:31PM

FRANCE

5630

               

Success

10:26:13PM

GERMANY

12528

               

Success

10:35:39PM

US500

3001.39

               

Success

10:38:28PM

DOW

27323

               

Success

10:40:42PM

NASDAQ

7928.02

7913

7886

7858

7949

7970

7977

8034

7929

‘cess

10:42:29PM

JAPAN

21691

               

‘cess

 

23/07/2019 FTSE Closed at 7556 points. Change of 0.56%. Total value traded through LSE was: £ 5,694,241,566 a change of 14.91%

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