Is this the future for Lloyds Bank?
15th August 2022 08:26
by Alistair Strang from Trends and Targets
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Independent analyst Alistair Strang gives his view on the ‘inactivity’ of this popular banking share.
There's allegedly reason for optimism, Lloyds Banking Group (LSE:LLOY)'s share price currently needs to trade above 47.3p to trigger price recovery to an initial 51p with secondary, if bettered, at 53.5p. The secondary is quite a big deal, affording the share the potential of closing a session above blue on the chart and finding itself in a zone where a long-term 76p will be viewed as the driving influence.
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As always with a retail bank, we are a little bit sceptical. Lloyds' share price currently needs dip below 42.4p to gently tap an alarm bell. This risks promoting reversal to an initial 40p and, hopefully, a rebound. If broken, our secondary calculates down at 35.5p.
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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.