Lloyds Banking Group (LSE:LLOY) It’s sometimes said a journey of a 1,000 miles starts with a single step. This continues to be an issue with the retail banks in the UK (and Europe) as they’ve not learned how to walk, let alone lace their shoes. The grim reality the market still faces has been the painful lack of recovery since the Banking Crash of 2009. This is always an issue as did the crash occur when shares hit bottom or did it occur at the end of 2007, when shares started to describe lower lows? Our preference is to regard 2009 and the point when share prices hit a bottom as the crash though, at times, it feels like what happened was a real crash and the patients remain severely injured.
However, when reviewing Lloyds, it is easy to forget the really Big Picture, perhaps sharing some sympathy for those who’ve seen the value of their little nest egg decline from above £10 a share back in 1999 to a current 45.12p.
As the chart below highlights, it’s not a pretty sight, making one question why the banks are failing to do anything to give shareholder value. While the current policy of ‘Debanking’ clients for their political or social views is perhaps generating headlines, it’s doing nothing to sort a rot which actually started 24 years ago for Lloyds.
Our immediate perspective on Lloyds allows us to generate a dubious argument favouring a future top of 110p, should the correct volume of pixy dust be sprinkled over the share. All Lloyds needs do is take the first step, one which is quite easy!
Currently, above 47.3p should generate price recovery to an initial 49.3p, not the most ambitious step for the share to make. However, should 49.3p somehow be exceeded, our secondary is now at 56.5p and a price level which demonstrates a reasonable higher high, giving a solid suggestion an escape from the misery of the most recent Covid-19 crash is around the corner. Surprisingly, this 56.5p almost exactly matches the share price level on the day the markets decided to again trash the banks and we believe this shall prove to be a price level, where closure above 56.5p should be capable of broadcasting a solid change in the banks prospects.
We can draw lines until the cows come home but, for the banks, we think only a record of “higher highs” shall kick share prices into life. Therefore, with closure above our 56.5p target, we will feel happy speculating a long term haul to 110 has commenced.
Unfortunately, as the chart above since 1998 demonstrates, 110p isn’t terribly impressive!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 9:57:13PM | BRENT | 8437.4 | 8278 | 8258 | 8196 | 8380 | 8443 | 8457 | 8515 | 8315 |
| 9:59:58PM | GOLD | 1958.92 | 1956 | |||||||
| 10:03:05PM | FTSE | 7672 | 7686 | |||||||
| 10:05:10PM | STOX50 | 4463.3 | 4448 | |||||||
| 10:06:47PM | GERMANY | 16459 | 16300 | 16262 | 16186 | 16352 | 16493 | 16520 | 16594 | 16422 |
| 10:09:56PM | US500 | 4581.4 | 4574 | |||||||
| 10:11:43PM | DOW | 35438.5 | 35477 | |||||||
| 10:14:00PM | NASDAQ | 15741 | 15715 | |||||||
| 10:16:10PM | JAPAN | 33120 | 33002 |
28/07/2023 FTSE Closed at 7694 points. Change of 0.03%. Total value traded through LSE was: £ 9,496,592,538 a change of 26.18%
27/07/2023 FTSE Closed at 7692 points. Change of 0.21%. Total value traded through LSE was: £ 7,526,466,026 a change of 81.26%
26/07/2023 FTSE Closed at 7676 points. Change of -0.2%. Total value traded through LSE was: £ 4,152,321,908 a change of -7.74%
25/07/2023 FTSE Closed at 7691 points. Change of 0.17%. Total value traded through LSE was: £ 4,500,914,113 a change of -15.2%
24/07/2023 FTSE Closed at 7678 points. Change of 0.2%. Total value traded through LSE was: £ 5,307,369,816 a change of 18.72%
21/07/2023 FTSE Closed at 7663 points. Change of 0.22%. Total value traded through LSE was: £ 4,470,558,321 a change of -16.97%
20/07/2023 FTSE Closed at 7646 points. Change of 0.76%. Total value traded through LSE was: £ 5,384,109,244 a change of -16.08% 
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
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