Lloyds for 2/10/2019

#France #Nasdaq We moan, every month, when trying to write something useful about the UK’s retail banks. Now, the discovery of something worse has brought a surprising level of cheer. When a key component to mans survival fails, a sharp reminder of what’s important in life is quickly delivered. In the interests of transparency, I’ve “form” with dishwashers, recently going through two replacements in a single year!

This time, the problem was rather more than simply sharing a house with the devils machine. Instead, an ill advised attempt to clean spray nozzles completed with a disaster of broken bits of plastic. Apparently a YouTube video with instructions for Electrolux did not mean a Bendix machine was the same. Between the kitchen and computer, I forgot the make of current washer. Thoughts on Lloyds Bank subsided while trying to glue and clamp a myriad of parts together again. Finding the manual, once I’d completed damaging the machine, proved the final humiliation. It even provided pictorial instructions.

Lloyds share price, alas, is something without pictorial instruction…

When we last reviewed Lloyds (link), we proposed a movement to 54p, something successfully achieved and even exceeded. Alas, the share price is treating this target level as something important, surfing above and below the 54p level while awaiting some sort of guideline for the future.

At this point, people increasingly write “Thanks, Boris” as explanation for confusion.

All joking aside, the share price has returned, miraculously, above the long term uptrend. In normal times of sanity, this is a “drop dead obvious” signal which points at real recovery but in this case, we’re not sold. Instead, there’s a very real danger of weakness now below 53.2p leading to an initial 51p. This returns the share below the trend, allowing a secondary of 48p but realistically, if powered by negative sentiment, Lloyds could now hit 43.4p in a blink.

For Lloyds to clamber out of trouble, it needs above 54.8 as this should power an initial 57.8p with secondary, a game changing (hopefully) 61p. Alas, at present we suspect it intends 48p next.

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

PriorFUTURES

 

10:19:47PM

BRENT

59.18

 

 

 

 

 

 

 

 

‘cess

10:22:52PM

GOLD

1479.75

 

 

 

 

 

 

 

 

‘cess

10:26:26PM

FTSE

7325.79

 

 

 

 

 

 

 

 

Success

10:41:46PM

FRANCE

5586

5578

5541.5

5487

5606

5620

5626.25

5633

5581

Shambles

10:50:51PM

GERMANY

12251

 

 

 

 

 

 

 

 

Success

10:52:55PM

US500

2942.47

 

 

 

 

 

 

 

 

Shambles

10:55:02PM

DOW

26588

 

 

 

 

 

 

 

 

Success

10:56:36PM

NASDAQ

7694.6

7673

7625

7559

7736

7742

7767.5

7799

7709

‘cess

10:59:02PM

JAPAN

21678

 

 

 

 

 

 

 

 

Success

 

1/10/2019 FTSE Closed at 7360 points. Change of -0.65%. Total value traded through LSE was: £ 7,016,145,513 a change of 8.13%

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