Interactive Investor

Lloyds Banking Group shares and a risk of weakness

3rd May 2022 09:07

Alistair Strang from Trends and Targets

Still above its Ukraine war low, but well short of its 2022 high, Lloyds Bank's share price is proving frustrating. Independent analyst reviews his forecasts for the high street lender. 

Lloyds Banking Group's (LSE:LLOY) share price has spent the last three weeks cowering in terror, something that requires a brief update.

There has been a pretty obvious downtrend since the middle of January, one which gives hope movement bettering the trend should provoke recovery to an initial 50.5p with secondary, if bettered, at a confident looking 56p.

Unfortunately, there has also been a well defined Red uptrend since March, one which was broken last week.

This results in a scenario where weakness now below 45.25p risks promoting reversal to an initial 43p with secondary, if broken, at 40.6p and hopefully a bounce.

Source: Trends and Targets. Past performance is not a guide to future performance

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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