Lloyds Banking Group (LSE:LLOY), will it ever recover?

#Brent #Dax

A ‘watched toaster never boils’, ‘waiting for the dishwasher spin cycle’, ‘a sure thing’. We like to spice our lives with these quaint homilies, little trite sayings which promise nothing other than confirmation of a gullible nature. Three weeks ago, reviewing Lloyds, we added; ‘an unusual expression of hope for the long term’ to the list of nonsense sayings.

While our predicted movement was indeed correct, the market proved quite spiteful as we’d only been predicting movement of around 1.48p, a financially useless gain but nevertheless, one which nudged the bank share price into a region with; ‘an unusual expression of hope for the long term’, immediately hating ourselves for this potential crossed finger moment. To be fair, visually Lloyds share price requires closure above 50p to give hope.

Despite bettering the immediate closing price downtrend, along with the Blue ‘high of the day’ downtrend, the bank share is teasing traders by remaining blatantly below the 50p level. This Green horizontal trend – or glass ceiling – looks like the real villain of the piece, hinting strongly only closure above 50p shall prove useful to signal coming share price recovery to an initial 56p with secondary, if bettered, a longer term 62p. Both target levels look sane, our secondary at 62p matching the share price pre-Covid levels, bringing a logical ambition for the future along with almost certain hesitation.

 

If everything intends go wrong, or at least suffer a slowdown, below 47p looks capable of reversing to an initial 45.5p with secondary, if broken, at 44.5p and hopefully yet another bounce and attempt at redemption.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop
10:23:11PM BRENT 87.68 85.63 85.035 84.11 87.34 87.81 87.945 88.71 87.2
10:24:47PM GOLD 1927.38 1925
10:27:10PM FTSE 7791.53 7750
10:32:53PM STOX50 4138 4110
10:34:33PM GERMANY 15098 14938 14878 14804 15027 15101 15121 15153 15033
10:36:54PM US500 3957.02 3937
10:39:33PM DOW 33270 33097
10:41:06PM NASDAQ 11568 11442
10:43:05PM JAPAN 26917 26830

 

20/01/2023 FTSE Closed at 7770 points. Change of 0.3%. Total value traded through LSE was: £ 5,193,532,558 a change of -8.71%
19/01/2023 FTSE Closed at 7747 points. Change of -1.06%. Total value traded through LSE was: £ 5,688,982,543 a change of 12.09%
18/01/2023 FTSE Closed at 7830 points. Change of -0.27%. Total value traded through LSE was: £ 5,075,315,047 a change of -21.93%
17/01/2023 FTSE Closed at 7851 points. Change of -0.11%. Total value traded through LSE was: £ 6,501,128,630 a change of 48.1%
16/01/2023 FTSE Closed at 7860 points. Change of 0.2%. Total value traded through LSE was: £ 4,389,692,147 a change of -22.72%
13/01/2023 FTSE Closed at 7844 points. Change of 0.64%. Total value traded through LSE was: £ 5,680,414,260 a change of -0.9%
12/01/2023 FTSE Closed at 7794 points. Change of 0.91%. Total value traded through LSE was: £ 5,732,068,747 a change of -8.81%

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:BBY BALFOUR BEATTY** **LSE:DARK Darktrace Plc** **LSE:EMG MAN** **LSE:GLEN Glencore Xstra** **LSE:IAG British Airways** **LSE:IHG Intercontinental Hotels Group** **LSE:POLY Polymetal** **LSE:TSCO Tesco** **

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Updated charts published on : BALFOUR BEATTY, Darktrace Plc, MAN, Glencore Xstra, British Airways, Intercontinental Hotels Group, Polymetal, Tesco,

LSE:BBY BALFOUR BEATTY. Close Mid-Price: 360 Percentage Change: + 0.90% Day High: 360.6 Day Low: 356.6

All BALFOUR BEATTY needs are mid-price trades ABOVE 361 to improve acceler ……..

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View Previous BALFOUR BEATTY & Big Picture ***

LSE:DARK Darktrace Plc. Close Mid-Price: 243.5 Percentage Change: + 3.48% Day High: 248.2 Day Low: 234.9

Weakness on Darktrace Plc below 234 will invariably lead to 193p next and, ……..

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View Previous Darktrace Plc & Big Picture ***

LSE:EMG MAN. Close Mid-Price: 239.3 Percentage Change: + 1.66% Day High: 240 Day Low: 235.7

Further movement against MAN ABOVE 240 should improve acceleration toward ……..

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View Previous MAN & Big Picture ***

LSE:GLEN Glencore Xstra. Close Mid-Price: 575.9 Percentage Change: + 2.09% Day High: 575.8 Day Low: 566.4

All Glencore Xstra needs are mid-price trades ABOVE 585 to now improve ac ……..

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View Previous Glencore Xstra & Big Picture ***

LSE:IAG British Airways. Close Mid-Price: 162.84 Percentage Change: + 1.84% Day High: 162.84 Day Low: 160.3

Further movement against British Airways ABOVE 163 should now improve acc ……..

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View Previous British Airways & Big Picture ***

LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 5638 Percentage Change: + 1.40% Day High: 5646 Day Low: 5580

Continued trades against IHG with a mid-price ABOVE 5646 should improve th ……..

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View Previous Intercontinental Hotels Group & Big Picture ***

LSE:POLY Polymetal Close Mid-Price: 342.75 Percentage Change: -1.22% Day High: 347.5 Day Low: 335

Further movement against Polymetal ABOVE 360 should improve acceleration t ……..

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View Previous Polymetal & Big Picture ***

LSE:TSCO Tesco Close Mid-Price: 247.9 Percentage Change: -0.12% Day High: 250.2 Day Low: 246.8

Continued trades against TSCO with a mid-price ABOVE 251 should improve th ……..

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View Previous Tesco & Big Picture ***

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

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