Which way are Lloyds Bank shares heading?
With the share price still trading not far off its five-year peak, independent analyst Alistair Strang has a fresh look at the high street bank's potential.
7th October 2024 07:23
by Alistair Strang from Trends and Targets
The Lloyds Banking Group (LSE:LLOY) share price broke through the Blue downtrend in May of this year, every single dance step thereafter paying careful homage to the downtrend. It creates a situation where immediate arguments become difficult, forcing us to try and discover what trend the market next  intends pay some attention to. Â
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There is a chance the downtrend since 2015 shall be regarded as important, suggesting the potential of some real gains in the market price, if only it would start increasing in price.
Should this be the case, the immediate situation demands Lloyds' share price exceeds roughly 61.338p to trigger movement to a potential 72p with our longer term secondary, if bettered, working out at a future 88.7p.
It’s worth considering our secondary target matches a prior high from 2015, along with the potential for some real hesitation.
It’s all a bit messy, like mud on white trainers, but feels like patience should be required as Lloyds should be heading upward.
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.Â
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