I should not jump in with an answer to a question which was directed at macbonzo.
However, IMO, the most important factor is indeed price action.
Be aware of fundamentals for sure but what is the price.
How is it moving ?
In the case of LLOY, downwards.
How many here would actually read through and comprehend LLOY results and reports ? 100s of pages at times, HSBA put out a 500 + page report some time back.
It is somewhat easier to look at what the share price is doing.
Each morning I examine the prior days price action of anything I am trading or considering.
I look at and actually write down : Pivot point, day high/low, sp close, support and resistance levels.
I keep records going back weeks.
I already have a reasonably well defined plan on where I would enter, either long or short and exit levels.
Based on sp action.