Lloyds

waverider2, the low of 46.8 on 19/4/13 which you have labelled a LL should be a HL
a close above 49.42 will give a HH & also a 123 low breakout

1st Quarter results due on the 30th gentlemen so we might have a little bull run should we get the 123 low confirmation.

Tight Lines

SRB

That low and higher low were bang on the main uptrend support:



dl.dropboxusercontent.com/u/20815047/LLOYdaily23_04_13.gif

Only question is: will it fill the gap up from yesterday? Thoughts welcome...

Jackozy, I have resistance at 50.48ish trendline and then maybe a retrace to buy the dips but someone wants this higher for sure.

www.screencast.com/t/F0xsPPqH0z


Tight Lines

SRB

This has played out perfectly and is now approaching the downtrend resistance from the 2010 high which is at 54.58 today:



dl.dropboxusercontent.com/u/20815047/LLOYdaily29_04_13.gif

I'll close my long there but I'm not going to take the short as it looks to me as if there have been 4 waves up from the 21.6p low from Nov 2011. This would suggest a possibility of a 5th wave up (if this is the case - the current move could be a wave 2 up instead) which might fill the gap at 58p.

If it breaks the downtrend I'll go long to that gap.

This has gapped above the downtrend resistance today:



dl.dropboxusercontent.com/u/20815047/LLOYdaily30_04_13.gif

It looks like it's going to make a new high and complete a 5th wave up.