#Brent #Dax
When we reviewed the banking sector in January last year, we were surprisingly optimistic, daring to suggest closure above 3673 points shall open the doors for longer term oomph. To our surprise, the fairy tale actually came true and the sector overall now appears poised for gains of 20% and beyond. Historically, we distrust the UK banks, price movements tending be slow and untrustworthy. Maybe times are changing.
Trading around 3846 at time of writing, the index needs close a session below 3370 points (Green Line on chart) to utterly foul up our arguments promoting optimism for the future!
It’s now the case where movement above 3930 points calculates with the potential of a continued lift to 4428 points with our longer term secondary, if bettered, working out at 5311 points, matching the highs of 2013 and a visual implication of the sector finally getting itself in place to finally recover from the famed Banking Crisis of 2008/9. We remain a little sceptical, thanks to 15 years of false dawns across the prices of retail bank shares and, to be honest, we’d never expected to find ourselves with sufficient justification to write the previous sentence.
Lloyds Bank If we accept the foregoing as gospel, it appears to be the case Lloyds intends head upward but so far, it’s painfully slow. Perhaps it shall be the case any wider market optimism, due to the current US series of earnings reports, shall polish Lloyds speed of movement. It’s certainly frustrating with Lloyds share price experiencing just 4.3p of movements during the most recent month. We’ve been awaiting an attempt at the 56p level but despite all boxes being ticked, the highest Lloyds has achieved (so far) has been just 54.33p.
It is now the case above 53.33p calculates with the potential of gains to 56.5p next with our secondary, if such a level is exceeded, now calculating at 62.8p. We still suspect some hesitation at such a secondary level, especially as it matches the share price high pre-pandemic!
But importantly, it’s now the case share price closure above 56.5p should allow us to mention a future 72p with secondary, now a longer term 110p.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:10:56PM | BRENT | 85.56 | 83.85 | 83.04 | 82.13 | 85.25 | 85.83 | 86.34 | 88.75 | 84.64 | Success |
| 10:14:30PM | GOLD | 1864.46 | |||||||||
| 10:17:02PM | FTSE | 7898 | Success | ||||||||
| 10:19:16PM | STOX50 | 4208.5 | |||||||||
| 10:26:43PM | GERMANY | 15333.25 | 15241 | 15225 | 15080 | 15336 | 15446 | 15458 | 15530 | 15354 | Success |
| 10:28:38PM | US500 | 4085.52 | |||||||||
| 10:31:14PM | DOW | 33839 | |||||||||
| 10:33:00PM | NASDAQ | 12284 | |||||||||
| 10:35:22PM | JAPAN | 27592 | ‘cess |
11/02/2023 FTSE Closed at 7882 points. Change of 0%. Total value traded through LSE was: £ 7,812,457,009 a change of 15.14%
10/02/2023 FTSE Closed at 7882 points. Change of -0.37%. Total value traded through LSE was: £ 6,785,335,053 a change of -4.85%
9/02/2023 FTSE Closed at 7911 points. Change of 0.33%. Total value traded through LSE was: £ 7,130,980,933 a change of 23.74%
8/02/2023 FTSE Closed at 7885 points. Change of 0.27%. Total value traded through LSE was: £ 5,763,001,863 a change of -1.93%
7/02/2023 FTSE Closed at 7864 points. Change of 0.36%. Total value traded through LSE was: £ 5,876,288,872 a change of 0.42%
6/02/2023 FTSE Closed at 7836 points. Change of -0.82%. Total value traded through LSE was: £ 5,851,906,357 a change of 5.01%
3/02/2023 FTSE Closed at 7901 points. Change of 1.04%. Total value traded through LSE was: £ 5,572,467,076 a change of -26.46%
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:ASC Asos** **LSE:AZN Astrazeneca** **LSE:BP. BP PLC** **LSE:OXIG Oxford Instruments** **LSE:TRN The Trainline** **
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Updated charts published on : Asos, Astrazeneca, BP PLC, Oxford Instruments, The Trainline,
LSE:ASC Asos Close Mid-Price: 824 Percentage Change: -8.95% Day High: 901 Day Low: 814.5
If Asos experiences continued weakness below 814.5, it will invariably le ……..
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View Previous Asos & Big Picture ***
LSE:AZN Astrazeneca. Close Mid-Price: 11390 Percentage Change: + 1.79% Day High: 11390 Day Low: 11130
In the event of Astrazeneca enjoying further trades beyond 11390, the sha ……..
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View Previous Astrazeneca & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 560 Percentage Change: + 2.62% Day High: 570.5 Day Low: 541.6
Target met. All BP PLC needs are mid-price trades ABOVE 570.5 to improve ……..
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View Previous BP PLC & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 2485 Percentage Change: + 3.97% Day High: 2615 Day Low: 2455
Continued trades against OXIG with a mid-price ABOVE 2615 should improve ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:TRN The Trainline Close Mid-Price: 262.3 Percentage Change: -2.64% Day High: 270.9 Day Low: 259.7
Weakness on The Trainline below 259.7 will invariably lead to 243 with se ……..
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View Previous The Trainline & Big Picture ***