Lloyds Banking Group (LSE:LLOY), ready to bite?

Lloyds Banking Group (LSE:LLOY)  Here in Argyll, it rained tonight. Had this volume of rain occurred elsewhere, it’d probably make front page news but in Argyll, there is more a sense of relief we can burn some garden rubbish again. Our own measure of “safe” is simple; if the garden stream is sufficient to grab a panic bucket of water, it’s safe to finally immolate some waste. As it’s been nearly 6 weeks since meaningfully bad weather, we shall doubtless hold off on reaching for a box of matches, perhaps until the waterfall is serious again.

 

Surprisingly, this actually has something to do with Lloyds share price. Similar to us wanting some rain, everyone’s been wanting Lloyds to make a meaningful share price movement and from a ‘charty’ perspective, it’s reaching the point where an end to the immediate movement drought will make some sense, despite the potential for a sudden faux pas before any lift.

A glance at the charts below reveals a few interesting stories.

Firstly, there’s the Blue downtrend, a line defined by an extraordinary 11 share price highs since February. For a downtrend to be this tightly managed, it sends a fairly vivid signal that the market is watching things pretty closely.

Secondly, there’s the Red circled areas on each chart. From reviewing daily price movements on the upper chart, the impression is being given of the share price being slightly vibrant but, when the closing prices are examined on the lower chart, the harsh reality is of sod all really happening! But from our perspective, this may not be entirely true.

When a share price starts following a downtrend from afar, such has happening with Lloyds during this month, it often forms the precursor for a completely surprise upward movement in price. This, unfortunately, is where the faux pas will often occur. The market, in a service to traders, will frequently preface such an upward movement with a sharp drop, designed we suspect to trigger short positions prior to a rise or force share holders to sell some of their shares in an utter panic. Thereafter, everyone gets to see such a share price cheerfully gallop away in the other direction… There’s absolutely no certainty this is about to happen but, as we mentioned, it happens and the market does have a perfect sense of humour. As a result, we shall not be aghast to witness a sudden sharp reversal anytime soon.

 

 

On the basis this share makes a movement upward, above 47p now looks capable of a lift to an initial 48.9p with our secondary, if bettered, at 51p. In this instance, it will be clear the downtrend for 2023 is being retired, suggesting the share price shall now be trading in a zone where a future 61p makes a lot of sense.

If things intend go wrong, share price CLOSURE below 43p looks troubling, allowing for reversal to an initial 41p with secondary, if broken, at 36p.


FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:29:14PM BRENT 76.32 75.08 74.685 74.01 75.96 76.72 77.3475 77.99 75.57
10:13:16PM GOLD 1958.08 1953 1947 1941 1962 1967 1975 1992 1959
10:15:43PM FTSE 7621.44 7610 7587 7554 7640 7664 7699 7751 7621 ‘cess
10:17:49PM STOX50 4363 4353 4333 4308 4387 4409 4430 4463 4378 ‘cess
10:20:40PM GERMANY 16279.67 16259 16190 16109 16337 16433 16455 16497 16346 ‘cess
10:23:17PM US500 4411.52 4325 4294 4242 4381 4450 4461 4555 4395 Success
10:25:30PM DOW 34297.2 34274 34157 34017 34380 34577 34591 34696 34409 Success
10:27:34PM NASDAQ 15084.07 15070 14994 14896 15150 15289 15313 15394 15144 Success
10:30:16PM JAPAN 33742 33604 33526 33368 33801 34005 34104 34406 33780 Success

 

16/06/2023 FTSE Closed at 7642 points. Change of 0.18%. Total value traded through LSE was: £ 14,002,242,699 a change of 107.37%
15/06/2023 FTSE Closed at 7628 points. Change of 0.34%. Total value traded through LSE was: £ 6,752,443,780 a change of 5.35%
14/06/2023 FTSE Closed at 7602 points. Change of 0.11%. Total value traded through LSE was: £ 6,409,785,309 a change of 14.25%
13/06/2023 FTSE Closed at 7594 points. Change of 1.66%. Total value traded through LSE was: £ 5,610,301,636 a change of 24.77%
12/06/2023 FTSE Closed at 7470 points. Change of -1.22%. Total value traded through LSE was: £ 4,496,360,714 a change of 0.19%
9/06/2023 FTSE Closed at 7562 points. Change of -0.49%. Total value traded through LSE was: £ 4,487,952,425 a change of -12.07%
8/06/2023 FTSE Closed at 7599 points. Change of -0.33%. Total value traded through LSE was: £ 5,104,102,479 a change of 3.08%

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:AML Aston Martin** **LSE:AVCT Avacta** **LSE:BME B & M** **LSE:CCL Carnival** **LSE:DARK Darktrace Plc** **LSE:IAG British Airways** **LSE:ITV ITV** **LSE:PMG Parkmead** **

********

Updated charts published on : Aston Martin, Avacta, B & M, Carnival, Darktrace Plc, British Airways, ITV, Parkmead,


LSE:AML Aston Martin. Close Mid-Price: 307.2 Percentage Change: + 2.40% Day High: 311.4 Day Low: 301

Target met. Further movement against Aston Martin ABOVE 311.4 should impr ……..

Subscribe for more

</p

View Previous Aston Martin & Big Picture ***


LSE:AVCT Avacta Close Mid-Price: 99 Percentage Change: -2.94% Day High: 105.5 Day Low: 99

If Avacta experiences continued weakness below 99, it will invariably lea ……..

Subscribe for more

</p

View Previous Avacta & Big Picture ***


LSE:BME B & M. Close Mid-Price: 553.4 Percentage Change: + 0.73% Day High: 559 Day Low: 547.6

In the event of B & M enjoying further trades beyond 559, the share shoul ……..

Subscribe for more

</p

View Previous B & M & Big Picture ***


LSE:CCL Carnival. Close Mid-Price: 1103.5 Percentage Change: + 0.36% Day High: 1143 Day Low: 1091.5

Target met. Continued trades against CCL with a mid-price ABOVE 1143 shou ……..

Subscribe for more

</p

View Previous Carnival & Big Picture ***


LSE:DARK Darktrace Plc. Close Mid-Price: 347.3 Percentage Change: + 13.20% Day High: 354.4 Day Low: 309.6

Further movement against Darktrace Plc ABOVE 354.4 should improve acceler ……..

Subscribe for more

</p

View Previous Darktrace Plc & Big Picture ***


LSE:IAG British Airways. Close Mid-Price: 166 Percentage Change: + 0.06% Day High: 167 Day Low: 164.75

Target met. Further movement against British Airways ABOVE 167 should im ……..

Subscribe for more

</p

View Previous British Airways & Big Picture ***


LSE:ITV ITV. Close Mid-Price: 70.64 Percentage Change: + 0.83% Day High: 71.84 Day Low: 68.88

Target met. Weakness on ITV below 68.88 will invariably lead to 64p with ……..

Subscribe for more

</p

View Previous ITV & Big Picture ***


LSE:PMG Parkmead. Close Mid-Price: 18.5 Percentage Change: + 0.00% Day High: 18.5 Day Low: 17.5

Target met. Continued weakness against PMG taking the price below 17.5 ca ……..

Subscribe for more

</p

View Previous Parkmead & Big Picture ***


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

This post has already been read 3656 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.