New game underway for Lloyds Bank shares
Having reached levels last seen in 2008, independent analyst Alistair Strang believes there could be more to come from the high street bank.
6th July 2026 07:37
by Alistair Strang from Trends and Targets
When we reviewed Lloyds Banking Group (LSE:LLOY)three weeks ago, we were optimistic about our scenario for a rise toward something we described as “a confident looking 116.7p”. It’s nearly there, sufficiently close that we’ve just about lost interest in such a target level, better ambitions now making themselves known for the longer term.
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From a near-term perspective, it appears movement above just 115.4p should still attempt a visit to 116.7p but, due to the strength of recent price changes, we suspect a new game is underway.
Obviously, world events risk intruding (as is always the case) but, from our perspective, we regard the Lloyds share price as successfully moving into Big Picture territory. It means that above 115.4p calculates with the potential of a lift to an initial 123p with our longer-term secondary, if beaten, at a future 154p.
These are pretty big steps on a path which works out a distant attraction from a stonking 310p.
All things considered, with the Lloyds share price looking like substantial growth is possible, and combined with the level of dividend on offer from the company, it’s starting to look like Lloyds may provide a good long-term investment.
If things intend to go wrong, share price closure below 109p would ring immediate alarm bells, opening the gates for reversal to an initial 88p with our secondary, if broken, at 79p and a fairly strong argument for a bounce.
While being optimistic for a UK retail bank goes against our instincts, we’ve now little choice but to apply a positive spin for Lloyds. Hopefully the Black Horse is finally starting to run.
Source: Trends and Targets. Past performance is not a guide to future performance. Important: Trends and Targets charts only incorporate official share count consolidations, ignoring rights issues where investors have a choice as to whether to participate.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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