#BrentCrude #DAX TV’s Jeremy Clarkson keeps stealing my Sunday evenings! Our preference is analysing the markets but the exception to the rule used to be sacrosanct, watching Clarkson & “Top Gear” on Sunday evening, delaying prep-work for the following weeks trading. This year, the guy has been doing it again, presenting “Millionaire” and making it watchable again. Like most folk, arrogance ensures the cheap questions are ignored in favour of making a cuppa but tonight, the very first question stopped me in my tracks. It literally never occurred knowing the layers of a cake could be important, especially as someone who has never eaten one. A peculiar allergy ensures I cannot even be in the same room when baking is going on.
With spiteful joy she’s waited years for, the ‘other half’ watched my struggle with choices and logic, failing to give a correct answer before the contestant. As a result, I was mentally sent home without even £100…
It’s funny how the glaringly obvious can sometimes trip us all up. We mentioned in our last report, should Lloyds reach 26p, in our opinion it would provide an excellent point at which to catch a bounce. We also complained at the speed of movements and wondered if there was any chance of the price ever getting there. This now appears extremely unlikely, so for those holding their breath, we’d suggest (almost) forgetting the potential.
Lloyds share price has finally exceeded the Blue downtrend, still not bursting with optimism, but a severe drop looks rather less likely.
Instead, the share has once again tangled with our 38p trigger level, again forcing us to wonder is happier times are ahead.
The arguments are starting to pile up; fewer Covid mortalities, reduced infection rates, lots of speculation regarding easing Lockdowns, school return dates mentioned. Thus far, the added benefit of vaccines give a lot of hope for a return to something approaching normality. We wonder if ‘Vaccine Passports’ shall become the norm in the hospitality industry in the year ahead, despite the Government rejecting the idea?
For Lloyds, if we regard all this as “glaringly obvious”, an improvement in their share price (almost) must happen and visually above 40p now looks key. In such an event, price recovery toward an initial 45p is now expected with secondary, if exceeded, at 50p. We can calculate the potential of 55p as a third level target, suspecting this may prove an issue. Prior to everything hitting the Covid fan in February 2020, there was some sort of issue going on between 55 & 60p, making us strongly suspect a Big Picture glass ceiling awaits, should such a level make itself known.
If everything intends go cake shaped for Lloyds, the share price now needs close below 36p to justify panic.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
19/02/2021 FTSE Closed at 6624 points. Change of 0.11%. Total value traded through LSE was: £ 6,689,261,003 a change of 15.24%
18/02/2021 FTSE Closed at 6617 points. Change of -1.39%. Total value traded through LSE was: £ 5,804,629,617 a change of -22.73%
17/02/2021 FTSE Closed at 6710 points. Change of -0.56%. Total value traded through LSE was: £ 7,511,824,336 a change of 35.06%
16/02/2021 FTSE Closed at 6748 points. Change of -0.12%. Total value traded through LSE was: £ 5,561,960,634 a change of -0.72%
15/02/2021 FTSE Closed at 6756 points. Change of 2.53%. Total value traded through LSE was: £ 5,602,276,757 a change of 0.88%
12/02/2021 FTSE Closed at 6589 points. Change of 0.93%. Total value traded through LSE was: £ 5,553,303,054 a change of 2.03%
11/02/2021 FTSE Closed at 6528 points. Change of 0.06%. Total value traded through LSE was: £ 5,442,915,422 a change of -20.73%
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