Lloyds Banking Group Price: LLOY Has Attempted Corrections, Peaking at 55

PUBLISHED: 26 May 2024 @ 11:10 | Comments (0) | More info about Azeez Mustapha

After a long trade path that showcases that bulls have had sustainable moves in a slow-and-steady moving style over a couple of sessions, Lloyds Banking Group Plc (LSE:LLOY) presently attempts corrections, peaking around 55.

Technically speaking, the moving average indicators are pointing north, which means that if bears are taking advantage of the market’s current correcting starting signal, the market will likely continue to decline and set up a support base around 50. Investors are advised to avoid considering a near-term rebound around the smaller EMA trend line in the interim.

Resistance Levels: 57.5, 60, 62.5
Support Levels: 50, 47.5, 45

As the LLOY Plc stock oscillates around the 15-day EMA, which trading zones should bulls and bears avoid?
The most wary-able bargaining zones for bull has been seen around the resistance of 57.5, and bear should cautious of any probable effort that could cause not holding firmly against the force to push back around 55, given that Lloyds Banking Group Plc stock market has attempted corrections, peaking around 55.

The 15-day EMA is at the top of the 50-day EMA, according to the moving averages’ positioning points, indicating that the exchange line at around 55 must be the most crucial location in relation to the ensuing trending pressures. As of this writing, the stochastic oscillators have shifted southward from high values to a location close to 40. Additionally, they continue to bend downward to confirm that a reduction in size is a risky step for the actions that follow.

Learn from market wizards: Books to take your trading to the next

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).

Follow @ItuGlobal

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.