Lloyds Bank for 14/09/2020

#Brent #Dax The retail banks remain the politicians of the stock market. As in, they don’t actually do anything except cost people money. And their movements stink a bit too! #Lloyds remains a case in point, our previous report suggesting the price only required a slight nod upward to start some recovery. For 3 weeks, the share has wallowed in the gutter and now is at risk of some reversals.

The situation for Lloyds remains the same, the share price only needing exceed 30.9p to tick a box suggesting coming recovery toward an initial 34 with secondary, if exceeded, at 35.75p. If triggered, the tightest stop loss level looks like 28p. In fairness, we shall be fascinated if the market discovers an excuse to “Gap” Lloyds up above 30.9p at the start of trade as it shall become likely a cycle toward 50p is likely to commence.

Of course, there’s a massive “however” thanks to Lloyds share price closing on Friday at 25.8p. By taking this stance, the market has allowed the bank to close in the land of ‘lower lows’, the share price now visiting levels not seen since 2012. In doing so, price moves have created a situation where below 25.8 calculates with the potential of weakness to an initial 24p with secondary, if broken, now at a really surprising price level.

Both our Big Picture, along with our calculations for the current year, point quite separately to 22.35p becoming a “bottom” for this retail bank! We don’t entirely understand which this is the case but when two quite different trading scenario point to the same target level, the market usually finds such a number irresistible. The big question, obviously, remains. Should Lloyds Bank hit our 22.35p target level (in fact, ideally just above this level to imply residual strength) will it bounce?

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
2:36:15PM BRENT 40.12 39.58 39.32 36.9 41 40.9 41.14 41.65 40
2:39:11PM GOLD 1940.56
2:43:55PM FTSE 6032.74 ‘cess
3:02:34PM FRANCE 5025
3:06:17PM GERMANY 13187 13110 13071.5 12989 13204 13260 13350 13540 13110 ‘cess
3:26:07PM US500 3338 ‘cess
3:39:06PM DOW 27648
3:41:12PM NASDAQ 11077 ‘cess
3:49:30PM JAPAN 23332 Success
11/09/2020 FTSE Closed at 6032 points. Change of 0.48%. Total value traded through LSE was: £ 3,504,460,601 a change of -8.69%
10/09/2020 FTSE Closed at 6003 points. Change of -0.15%. Total value traded through LSE was: £ 3,837,937,083 a change of -13.67%
9/09/2020 FTSE Closed at 6012 points. Change of 1.38%. Total value traded through LSE was: £ 4,445,872,932 a change of -0.63%
8/09/2020 FTSE Closed at 5930 points. Change of -0.12%. Total value traded through LSE was: £ 4,474,047,176 a change of 45.17%
7/09/2020 FTSE Closed at 5937 points. Change of 2.38%. Total value traded through LSE was: £ 3,081,866,920 a change of -35.14%
4/09/2020 FTSE Closed at 5799 points. Change of -0.87%. Total value traded through LSE was: £ 4,751,494,897 a change of 11.8%
3/09/2020 FTSE Closed at 5850 points. Change of -1.52%. Total value traded through LSE was: £ 4,250,184,579 a change of -2.94%

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