Lloyds Banking Group & a Blue line

#Brent #Dax

We’ve been staring hard into the tea leaves, trying to figure out just what Lloyds – and the wider retail banking sector – are playing at. Recent weeks have seen Lloyds once again achieve our initial target level, yet the share price continues to move with levels of lethargy which would impress a local council department.

Our argument suggested above 44p as leading to 46.2p, an ambition which was successfully achieved over 5 sessions. In the period since, the share price has been flopping around like a goldfish exploring dry land for the first time. However, when we review price movements since the pandemic crash of 2020, there’s something significant worth paying attention to. Essentially, intraday movements appear unreliable as successful harbingers of things to come. Instead, it appears the market relies on the point where Lloyds actually closes a session to provide serious clues as to the share price’s plans.

For instance, currently we’re showing the potential of a visit to 47.75 intraday but, if we instead regard taking cognisance of closing prices as important, in reality we should be hoping for Lloyds to discover an excuse to CLOSE a session above Blue on the chart. At time of writing, the value of Blue is at 47.136p and closure above this point is liable be quite symbolic.

We’re maybe being a little long winded but, by closing above the immediate Blue downtrend, a cycle toward a future initial 54.25p looks possible. Our longer term secondary, if exceeded, works out at a visually pleasing 59.5p and matches the highs at the start of 2020, prior to the world catching Covid fever.

If everything intends go Liz Truss shaped, Lloyds currently requires to CLOSE a session below 44.5p as a reversal cycle to an initial 39p looks possible with secondary, if broken, hopefully at a trampoline bottom by 35.4p.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop
8:50:18PM	BRENT	86.01	85.18	84.71	83.16	87.12	87.95	88.875	90.12	86.32
8:51:39PM	GOLD	1797.78								1793
9:08:00PM	FTSE	7552.65								7546
9:17:51PM	STOX50	3982								3967
9:19:38PM	GERMANY	14548.72	14468	14455	14418	14538	14586	14639	14731	14512
9:21:11PM	US500	4067								4060
9:23:32PM	DOW	34407.7								34234
9:25:25PM	NASDAQ	11972.3								11960
9:27:03PM	JAPAN	27696								27665

 

2/12/2022 FTSE Closed at 7556 points. Change of -0.03%. Total value traded through LSE was: £ 4,491,031,065 a change of -9.42%

1/12/2022 FTSE Closed at 7558 points. Change of -0.2%. Total value traded through LSE was: £ 4,958,235,310 a change of -42.03%

30/11/2022 FTSE Closed at 7573 points. Change of 0.81%. Total value traded through LSE was: £ 8,552,950,993 a change of 45.26%

29/11/2022 FTSE Closed at 7512 points. Change of 0.51%. Total value traded through LSE was: £ 5,887,947,739 a change of 42.84%

28/11/2022 FTSE Closed at 7474 points. Change of -0.16%. Total value traded through LSE was: £ 4,121,947,461 a change of -6.58%

25/11/2022 FTSE Closed at 7486 points. Change of 0.27%. Total value traded through LSE was: £ 4,412,047,721 a change of 36.26%

24/11/2022 FTSE Closed at 7466 points. Change of 0.01%. Total value traded through LSE was: £ 3,237,992,179 a change of -28.67%

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:CEY Centamin** **LSE:EXPN Experian** **LSE:IGAS Igas Energy** **LSE:ITRK Intertek** **LSE:TERN Tern Plc** **

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Updated charts published on : Centamin, Experian, Igas Energy, Intertek, Tern Plc,

LSE:CEY Centamin Close Mid-Price: 108.3 Percentage Change: -0.18% Day High: 109.45 Day Low: 106.6

All Centamin needs are mid-price trades ABOVE 109.45 to improve accelerat ……..

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LSE:EXPN Experian. Close Mid-Price: 2967 Percentage Change: + 0.44% Day High: 3006 Day Low: 2935

Continued trades against EXPN with a mid-price ABOVE 3006 should improve ……..

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LSE:IGAS Igas Energy Close Mid-Price: 18.6 Percentage Change: -7.92% Day High: 20 Day Low: 18.1

Target met. Continued weakness against IGAS taking the price below 18 cal ……..

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LSE:ITRK Intertek. Close Mid-Price: 4130 Percentage Change: + 0.90% Day High: 4180 Day Low: 4070

In the event of Intertek enjoying further trades beyond 4180, the share s ……..

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LSE:TERN Tern Plc. Close Mid-Price: 10.9 Percentage Change: + 3.81% Day High: 11.5 Day Low: 10.75

All Tern Plc needs are mid-price trades ABOVE 11.5 to improve acceleratio ……..

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