Annual forecast for Lloyds Banking Group (2021)

Share On Facebook
share on Linkedin
Print

Lloyds stock (LSE:LLOY) was bullish from April 2021 till June 2021; when the price began to come downwards. The trend is bearish in the meantime and further downward movement is envisaged. Since June 2021, the market has been coming down gradually, and it has now formed a bearish bias.

Although the ADX period 14 is around the level 20 (showing a lack of momentum at the present), the DM+ is kind of below the DM-, meaning that sellers still have upper hands. MACD, default parameters, has its signal lines and histogram below the zero line. There is a Bearish Confirmation Pattern in the market.

By the price action and reality in the market, the bias on LLOY is bearish for this year, and price is supposed to reach the support lines at 45.00, 42.50 and 40.00. Any rallies would be temporary as it would proffer opportunities to sell short.

 

Teach Yourself Technical Analysis: Technical analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211017 13:26:30