Lloyds

Hello - is there a very, very, very kind soul out there who will help me with a current interpretation of Lloyds please?? It's driving me nuts and - as you know - I'm pretty useless as far as TA is concerned!

PLEASE??

Thanks
Anne

Hi Anne

This bounced of the main up trend line last week perfectly. If the trend line breaks and the price finishes below then it could open up 38p and then you need to look at the fibs for support.. The trend line currently is at 47p. This is currently producing lower highs so thats a bit bearish.
So as long as its above that trend line there is a chance this can go higher.
Look at the rsi for clues of this going higher as if it breaks the trend line on that then it may signal a move higher but ultimately it would be nice to have a 123 low as well to break the lower highs.

support...47(trend line),,44(38.2 fibs),,40.91(gap),,40.6(50%fib),,38,,36.8(61.8fib)
resistance....49.83,,51.38,,56.15,,58.05(gap)

Thanks very much remo - it really helps to see a chart and read some explanations that make sense. (I hope that sends a smiley face - I'm not sure how to access the emoticons from the 'reply' box)

I'm keeping a close watch on where it goes and it would be great if there was a break in this (albeit temporary) downward movement.

Enjoy your evening!

Anne

annes goal wrote: Thanks very much remo - it really helps to see a chart and read some explanations that make sense. (I hope that sends a smiley face - I'm not sure how to access the emoticons from the 'reply' box)

I'm keeping a close watch on where it goes and it would be great if there was a break in this (albeit temporary) downward movement.

Enjoy your evening!

Anne

hi Anne
The emotions are only available when you reply and not when you quick reply..Hope that make sense.

Perfectly!



Thank you!

lol just testing

Anyway, my short term view on BANKS are very bullish at the moment.

Lloyds in particular has seen a failed move to the downside IMHO so just waiting to see if the trendline breaks. There seems to be some bullish momentum.
Judging by the last rally - the banks were rallying first and we could just be seeing the same ??

My take on Lloyds:
dl.dropboxusercontent.com/u/4385922/Lloyds.png

As usual, please share your thoughts...

cheers