Lloyds Bank 2/03/2020

#BRENT #DAX Retail bank prices behave like a cosmic practical joke. When we reviewed Lloyds in January (link), we warned we’d need review the tea leaves again if the price managed below 48p. During Fridays traumatic session, Lloyds achieved 47.89p, thus forcing us to do some work!

At first glance, Lloyds share price looks pretty stuffed and yes, weakness now below 47.8p will be regarded as entering a cycle down to an initial 42.5 with secondary, when broken, at a bottom hopefully of 31p. However, there’s a bit of a wrinkle with this argument and it’s shown with the Closing Price insert on the chart.

It could prove to be quite important the market ensured Lloyds Bank share price did not close below the trend, instead effectively closing at Red, hinting at a coming rebound.

This being the case, it’s perhaps important to point out the glaringly obvious. Until such time Lloyds share price recovers above Blue, we dare not take any recovery seriously. At present, this particular stumbling block resides at 62p.

Near term, above 53.3p looks capable of bringing an initial 56.25p. If exceeded, secondary calculates at 59.7p and visually collides with a glass ceiling which appears to have formed just below the 60p level this year. There’s certainly a strong argument favouring movement above 59.7p being taken as early warning for a future attempt at the banks share price breaking above Blue, hopefully to enjoy some time in the sun.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
4:00:19PM	BRENT	50.1	48.9	47.74	46.44	50.25	50.93	51.45	52.3	49.5	Success
4:24:37PM	GOLD	1586									Success
5:03:45PM	FTSE	6709.28									‘cess
5:07:33PM	FRANCE	5333.5									Success
5:25:18PM	GERMANY	12035.78	11716	11475	11393	11920	12059	12152.5	12298	11932	Success
5:29:28PM	US500	2989									‘cess
5:34:15PM	DOW	25690									Success
5:37:45PM	NASDAQ	8545.37									‘cess
5:40:43PM	JAPAN	21137									Success

 

28/02/2020 FTSE Closed at 6580 points. Change of -3.18%. Total value traded through LSE was: £ 13,863,850,185 a change of 59.9%

27/02/2020 FTSE Closed at 6796 points. Change of -3.49%. Total value traded through LSE was: £ 8,670,151,517 a change of 31.45%

26/02/2020 FTSE Closed at 7042 points. Change of 0.36%. Total value traded through LSE was: £ 6,595,554,712 a change of -16.85%

25/02/2020 FTSE Closed at 7017 points. Change of -1.94%. Total value traded through LSE was: £ 7,932,387,742 a change of 6.36%

24/02/2020 FTSE Closed at 7156 points. Change of -3.34%. Total value traded through LSE was: £ 7,457,826,437 a change of 17.05%

21/02/2020 FTSE Closed at 7403 points. Change of -0.44%. Total value traded through LSE was: £ 6,371,450,688 a change of 1.87%

20/02/2020 FTSE Closed at 7436 points. Change of -0.28%. Total value traded through LSE was: £ 6,254,655,479 a change of 11.64%