Lloyds Banking Group and the end of a trend…

#Brent #Dax

Sometimes, it feels like our three weekly visit to Lloyds comes around faster than talk of the UK changing Prime Ministers! Our current great leader must be wondering how big an archive of inappropriate photographs TV show, “Have I Got New For You”, hold in reserve. For Lloyds, we’ve one snapshot below which appears worthy of discussion.

Our eye was caught by the share’s Closing Price movements during 5 sessions in September, shown in the r/h inset on the chart. On July 19th, the share price broke above what was assumed to be the 2022 downtrend, lunging upward to 44.3p before settling back down. For the next four sessions, the case price closed each day, carefully placed just above this immediate downtrend. Eventually, curiosity reared its ugly head and we extended this downtrend back in time, wondering where it may end up. The trend commenced on September 19th, 2008, a day where the market somehow decided to spike up to 393p before opting to close the session a pound lower.

We often warn of opening spikes proving capable of fuelling reversals but, by any standards, this one proved a humdinger.

Thankfully, while we’re fascinated in discovering this Blue line can be dated back 14 years, it’s also worth recalling this particular Blue trend line is now regarded as a historical downtrend, the market clearly very aware of it. Despite the current song and dance being enacted by Lloyds share price, it’s usually the case when a historical downtrend is broken, a new trend commences UNLESS a price once again retreats below the previous trend. From a charty perspective, this is a bit like grabbing a pole on the underground, one previously fondled by someone with Covid-19, also Monkeypox, and a liking for ‘I’m A Celebrity’ on UK TV. It’s frightening to note there’s no medical treatment for the last illness.

To pretend optimism, currently Lloyds share price is languishing in a zone where our Big Picture can start to make arguments favouring an eventual 222p as a sane target for the (distant) future!

 

For now, despite our breathless excitement at discovering a trend we’d only suspected, we’re a little worried at current movements as they risk dumping Lloyds share price once again below Blue on the chart, with all the misery it entails. The immediate situation allows for weakness below 40.4p to trigger reversals to an initial non-threatening 39.1p. If broken, our secondary becomes rather more worrying at 35.5p, along with an implicit risk of the share price closing a session below Blue. Our hope, given the market is clearly very aware of the parentage of this trend line, is for a surprise upward change in direction for nails start being hammered into coffins.

We’re always quite fond of trying to identify a point which needs passed to rubbish a series of calculations. In the case of Lloyds, we can argue closure above 43.5p should serve to marshal the share price away from imminent doom, taking the first steps of a journey which should lead to a relatively near term 51p with secondary, if bettered, at 53.5p and some probable hesitation.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop
2:08:40PM BRENT 85.45 84.94 83.535 81.8 86.93 87.78 89.5775 90.59 86.52
2:30:36PM GOLD 1661.15
2:33:40PM FTSE 6832
2:36:45PM STOX50 3280.9
3:31:13PM GERMANY 11976 11858 11636 11406 12096 12156 12230 12321 11976
8:34:26PM US500 3591.27
8:36:43PM DOW 28769
8:38:55PM NASDAQ 10982
8:40:36PM JAPAN 25859
30/09/2022 FTSE Closed at 6893 points. Change of 0.17%. Total value traded through LSE was: £ 6,766,933,974 a change of -4.67%
29/09/2022 FTSE Closed at 6881 points. Change of -1.77%. Total value traded through LSE was: £ 7,098,757,750 a change of -12.95%
28/09/2022 FTSE Closed at 7005 points. Change of 0.3%. Total value traded through LSE was: £ 8,154,391,132 a change of 17.78%
27/09/2022 FTSE Closed at 6984 points. Change of -0.51%. Total value traded through LSE was: £ 6,923,595,633 a change of 5.34%
26/09/2022 FTSE Closed at 7020 points. Change of 0.03%. Total value traded through LSE was: £ 6,572,681,049 a change of 1.53%
23/09/2022 FTSE Closed at 7018 points. Change of -1.97%. Total value traded through LSE was: £ 6,473,438,666 a change of 23.11%
22/09/2022 FTSE Closed at 7159 points. Change of -1.08%. Total value traded through LSE was: £ 5,258,363,393 a change of -10.68%

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.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:AGM Applied Graphene** **LSE:AML Aston Martin** **LSE:ASC Asos** **LSE:CAR Carclo** **LSE:CASP Caspian** **LSE:CCL Carnival** **LSE:CNA Centrica** **LSE:NG. National Glib** **LSE:OCDO Ocado Plc** **LSE:ODX Omega Diags** **LSE:OXIG Oxford Instruments** **LSE:SMT Scottish Mortgage Investment Trust** **

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Updated charts published on : Applied Graphene, Aston Martin, Asos, Carclo, Caspian, Carnival, Centrica, National Glib, Ocado Plc, Omega Diags, Oxford Instruments, Scottish Mortgage Investment Trust,

LSE:AGM Applied Graphene Close Mid-Price: 13 Percentage Change: -7.14% Day High: 14 Day Low: 13

Weakness on Applied Graphene below 13 will invariably lead to 11.50 with ……..

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View Previous Applied Graphene & Big Picture ***

LSE:AML Aston Martin Close Mid-Price: 119.5 Percentage Change: -4.74% Day High: 133.7 Day Low: 116.75

In the event Aston Martin experiences weakness below 116.75 it calculates ……..

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LSE:ASC Asos Close Mid-Price: 569 Percentage Change: -4.37% Day High: 611.5 Day Low: 560.5

If Asos experiences continued weakness below 560.5, it will invariably le ……..

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LSE:CAR Carclo Close Mid-Price: 16.7 Percentage Change: -1.47% Day High: 17 Day Low: 16.5

If Carclo experiences continued weakness below 16.5, it will invariably l ……..

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LSE:CASP Caspian Close Mid-Price: 2.6 Percentage Change: -5.45% Day High: 2.75 Day Low: 2.6

Continued weakness against CASP taking the price below 2.6 calculates as ……..

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LSE:CCL Carnival Close Mid-Price: 581.8 Percentage Change: -21.25% Day High: 758.6 Day Low: 549.8

If Carnival experiences continued weakness below 549.8, it will invariabl ……..

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LSE:CNA Centrica Close Mid-Price: 70.84 Percentage Change: -1.91% Day High: 73.5 Day Low: 69.88

Continued weakness against CNA taking the price below 69.88 calculates as ……..

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LSE:NG. National Glib Close Mid-Price: 931 Percentage Change: -0.68% Day High: 953 Day Low: 924.8

In the event National Glib experiences weakness below 924.8 it calculates ……..

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LSE:OCDO Ocado Plc. Close Mid-Price: 472.5 Percentage Change: + 0.68% Day High: 486.4 Day Low: 456.8

Continued weakness against OCDO taking the price below 456.8 calculates a ……..

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LSE:ODX Omega Diags Close Mid-Price: 2.35 Percentage Change: -2.08% Day High: 2.4 Day Low: 2.25

Target met. If Omega Diags experiences continued weakness below 2.25, it ……..

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LSE:OXIG Oxford Instruments. Close Mid-Price: 1784 Percentage Change: + 1.13% Day High: 1802 Day Low: 1686

Target met. Continued weakness against OXIG taking the price below 1686 c ……..

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View Previous Oxford Instruments & Big Picture ***

LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 782.4 Percentage Change: + 2.54% Day High: 785.4 Day Low: 751.6

Continued weakness against SMT taking the price below 751.6 calculates as ……..

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View Previous Scottish Mortgage Investment Trust & Big Picture ***

*** End of “Updated Today” comments on shares.

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