#BrentFutures #DaxFutures When we previously reviewed #Lloyds, we moaned about their share price (as always), complaining it had spent three weeks with a 3p trading range. Unsurprisingly, we can recycle our previous comments as the share remains with a foul bandwidth of movements. Rather spitefully, it moved down, into a trading range 3p lower than last time, maintaining its width of range.
Unfortunately, there are now a few Red Flags giving cause for concern!
Firstly, there’s the Red trend line on the chart, dating back to September 2020. The share has broken this uptrend, moving into a position where any excuse for a solid reversal is liable to provoke sharp downward moves.
Secondly, there’s the circled area on the chart. This particular blip through the uptrend is something we tend regard as an early warning for trouble. Despite the share price not closing below the uptrend, the market essentially served warning the uptrend dare not be regarded as sacred. It can be broken…
Third, by closing Friday at 43.41p, Lloyds share price achieved an official “Lower Low”, closing the day at a lower level than any time since the trend was broken and also, closing below the early warning level referred to previously.
When we collate all these troubling signs, it’s easy to conclude the world is about to end for Lloyds but the reality is probably less dramatic. Weakness now continuing below 43.2p looks capable of near term reversals to 41.55p. If broken, our secondary calculates at 38.8p and hopefully a proper bounce. If the market is serious about giving Lloyds a bit of a kicking, the price could even hit 36p, a level where it’s ‘almost a requirement’ the share rebounds. We’d stress our use of the word ‘almost; in the previous sentence. At times, it feels like the only real requirement in retail banking shares is for the market to cause the maximum level of pain to private investors.
For things to take a turn for the better with Lloyds Bank, apparently above 45.8p should trigger recovery to an initial 47p, far from the most exciting potential. If bettered, our secondary currently calculates at 50.5p. At this level, it becomes crucial for the share price to close a session above 50p as this should serve notice for some stronger future price recovery.
Trends and Targets. Past performance is not a reliable indicator of future results.
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|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop|
3/09/2021 FTSE Closed at 7138 points. Change of -0.35%. Total value traded through LSE was: £ 4,613,097,281 a change of 1%
2/09/2021 FTSE Closed at 7163 points. Change of 0.2%. Total value traded through LSE was: £ 4,567,320,494 a change of -8.51%
1/09/2021 FTSE Closed at 7149 points. Change of 0.42%. Total value traded through LSE was: £ 4,992,272,040 a change of -31.13%
31/08/2021 FTSE Closed at 7119 points. Change of -0.41%. Total value traded through LSE was: £ 7,249,282,364 a change of 72.14%
27/08/2021 FTSE Closed at 7148 points. Change of 0.34%. Total value traded through LSE was: £ 4,211,324,881 a change of 13.85%
26/08/2021 FTSE Closed at 7124 points. Change of -0.36%. Total value traded through LSE was: £ 3,698,877,507 a change of -14%
25/08/2021 FTSE Closed at 7150 points. Change of 0.35%. Total value traded through LSE was: £ 4,301,236,714 a change of -11.3%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
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Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:ASC Asos** **LSE:EME Empyrean** **LSE:FRES Fresnillo** **LSE:GKP Gulf Keystone** **LSE:IQE IQE** **LSE:MRW Morrisons** **LSE:POLY Polymetal** **
Updated charts published on : Asos, Empyrean, Fresnillo, Gulf Keystone, IQE, Morrisons, Polymetal,
LSE:ASC Asos Close Mid-Price: 3495 Percentage Change: -5.54% Day High: 3701 Day Low: 3493
Target met. If Asos experiences continued weakness below 3493, it will in ……..
LSE:EME Empyrean. Close Mid-Price: 5.4 Percentage Change: + 0.00% Day High: 5.55 Day Low: 5.25
Weakness on Empyrean below 5.25 will invariably lead to 4p with secondary ……..
LSE:FRES Fresnillo. Close Mid-Price: 862.4 Percentage Change: + 3.50% Day High: 867.2 Day Low: 834.4
All Fresnillo needs are mid-price trades ABOVE 867.2 to improve accelerat ……..
LSE:GKP Gulf Keystone. Close Mid-Price: 183.4 Percentage Change: + 3.73% Day High: 186.4 Day Low: 174.4
Further movement against Gulf Keystone ABOVE 186.4 should improve acceler ……..
LSE:IQE IQE. Close Mid-Price: 53.3 Percentage Change: + 0.19% Day High: 54.6 Day Low: 52.5
All IQE needs are mid-price trades ABOVE 54.6 to improve acceleration tow ……..
LSE:MRW Morrisons. Close Mid-Price: 290 Percentage Change: + 0.10% Day High: 294.9 Day Low: 289
All Morrisons needs are mid-price trades ABOVE 294.9 to improve accelerat ……..
LSE:POLY Polymetal. Close Mid-Price: 1459 Percentage Change: + 1.74% Day High: 1461 Day Low: 1432.5
Weakness on Polymetal below 1432.5 will invariably lead to 1420 with seco ……..
*** End of “Updated Today” comments on shares.
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