Lloyds Bank (LSE:LLOY) Trigger levels often prove important, none more so than the one we gave for Lloyds three weeks ago. All we demanded was the share price exceed 40.6p to “prove” bottom and provoke some reasonable acceleration. Despite FTSE flamboyance, the bank only achieved 40p as a high in the intervening period. Perhaps it’s on a stock market version of Santa’s naughty list!
How are things now looking?
Our movement trigger has changed in the intervening period, just not impressively. It now asks the share price exceed 41.49p before we dare be convinced some proper price recovery is commencing, this calculating with the potential of movement to an initial 46.5p with secondary, if exceeded, at 50.5p. Given the share is trading at 36.75 at time of writing, this does not suggest a truly impressive recovery tier, quite the opposite.
Some marginal hope is being taken from the position of our “if it all goes wrong” price level. We’d calculated the share needed break below 31.7p to promote the idea of running for the hills. Thankfully, the lowest achieved in the period was 32p, above our panic level and tending confirm we’ve been watching the correct trend. This danger level can now be adjusted down to 31.2p as weakness below such a point looks capable of triggering reversal, again, down to 27.25p and hopefully a rebound. The chart certainly gives such an impression.
For now, we remain optimistic, suspecting the price ‘only’ needs a slight change in market sentiment to move fast.
We’ve one more report on Wednesday (the FTSE obviously) until we return next Tuesday, 5th January. One of the (often rare) joys of living in Scotland is 1st & 2nd January are public holidays, embraced quite seriously with the result this coming Monday is a public holiday – aka taking down all the Xmas decoration and hosting a family day in the countryside.
FUTURES
Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
9:31:26PM | BRENT | 51.48 | 50.8 | 50.325 | 49.75 | 51.6 | 51.68 | 51.89 | 52.25 | 50.92 | |
9:33:02PM | GOLD | 1878 | 1871 | 1865 | 1853 | 1883 | 1886 | 1892 | 1904 | 1876 | |
9:57:10PM | FTSE | 6591 | 6551 | 6516 | 6461 | 6606 | 6681 | 6702.5 | 6759 | 6595 | Success |
10:09:03PM | FRANCE | 5587.5 | 5577 | 5560 | 5538 | 5602 | 5602 | 5613.75 | 5659 | 5577 | ‘cess |
10:12:07PM | GERMANY | 13723 | 13688 | 13632 | 13578 | 13782 | 13867 | 13990 | 14024 | 13768 | ‘cess |
10:14:47PM | US500 | 3731.62 | 3725 | 3718.5 | 3706 | 3743 | 3756 | 3781.25 | 3807 | 3733 | ‘cess |
10:17:10PM | DOW | 30371 | 30321 | 30272.5 | 30163 | 30469 | 30602 | 30745 | 31187 | 30401 | Shambles |
10:21:28PM | JAPAN | 27520 | no idea | 27702 | 27821 | 27974 | 27455 | Success |
29/12/2020 FTSE Closed at 6602 points. Change of 1.54%. Total value traded through LSE was: £ 4,771,921,591 a change of 150.04%
28/12/2020 FTSE Closed at 6502 points. Change of 0.11%. Total value traded through LSE was: £ 1,908,434,539 a change of -53.69%
23/12/2020 FTSE Closed at 6495 points. Change of 0.65%. Total value traded through LSE was: £ 4,121,226,334 a change of -11.88%
22/12/2020 FTSE Closed at 6453 points. Change of 19.66%. Total value traded through LSE was: £ 4,676,737,915 a change of -29%
21/12/2020 FTSE Closed at 5393 points. Change of -17.4%. Total value traded through LSE was: £ 6,586,656,478 a change of -30.25%
18/12/2020 FTSE Closed at 6529 points. Change of -100%. Total value traded through LSE was: £ 9,442,789,780 a change of 0%
17/12/2020 FTSE Closed at 6551 points. Change of 0%. Total value traded through LSE was: £ 5,439,357,090 a change of 0%
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