#Gold #DOW Despite lockdown easing, Lloyds Bank share price continues to ‘Antisocially Distance’ itself from investors and traders, carefully walking a path of movement which accomplishes nothing. Circled on the chart is absolutely nothing, an area which shall hopefully provide a reason to discuss price moves.
We’ve little doubt the market is watching the Blue line on the chart, presently suggesting the price needs exceed roughly 34.582p to suggest “BREAKOUT”, screaming of good times ahead. Or at least, some price recovery. The potential of this line proving to be a trigger level declines at a rate of 0.17p per day and this hints it may be another 19 days before Blue becomes an issue in the highly unlikely event the share price remains at its present 31.205p.
Working on the basis most sane folk skipped the preceding paragraph, what do we think is coming?
It will not surprise us in the slightest, if the market finds a reason to “gap” the share price above this downtrend anytime soon, ideally into the circled area of the chart. This will carry a subliminal implication we’re watching the start of some price recovery, presumably unless the famed Covid-19 2nd Wave appears. As a result, moves above Blue shall be regarded as triggering recovery to an initial 42p with secondary, if bettered, still at 48p. There’s even the hope drooling optimism could propel the share price even higher, potentially to 58p where some hesitation becomes almost certain.
Lloyds share price requires break Red on the chart, currently at 27.5p, to suggest reason for real concern as a drift down to 24 with secondary 18p remains possible.
Next week, it’s the turn of Barclays for analysis but we may opt for RBS instead, just to try something different in the retail bank sector.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
6/07/2020 FTSE Closed at 6285 points. Change of 2.08%. Total value traded through LSE was: £ 4,612,670,070 a change of 43.54%
3/07/2020 FTSE Closed at 6157 points. Change of -1.33%. Total value traded through LSE was: £ 3,213,499,960 a change of -37.56%
2/07/2020 FTSE Closed at 6240 points. Change of 1.35%. Total value traded through LSE was: £ 5,146,759,435 a change of -4.07%
1/07/2020 FTSE Closed at 6157 points. Change of -0.19%. Total value traded through LSE was: £ 5,364,963,061 a change of 0.93%
30/06/2020 FTSE Closed at 6169 points. Change of -1.15%. Total value traded through LSE was: £ 5,315,656,653 a change of 10.43%
29/06/2020 FTSE Closed at 6241 points. Change of 1.33%. Total value traded through LSE was: £ 4,813,785,764 a change of 2.33%
26/06/2020 FTSE Closed at 6159 points. Change of 0.2%. Total value traded through LSE was: £ 4,704,232,985 a change of 0.38%
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