Well I didn’t see the fun today, but it looks as if it was a bit of a roller-coaster , that is two days in a row the share has dropped from its high of around 63.50.
I believe the share has been short sold and perhaps a reason for the volatility. Looking at today’s graph there was quite a drop around 10.45 and again around 3.30 pm, each time the share rose again and appeared to me it was bouncing around 61p.
A week ago we started to climb from say 59p and Friday we hit 63pish, Monday up to 63.50 and down to 62.50, last week I believed I mentioned an overbuying signal and to watch for a turning point. Again today it warns of over buying and to watch for the turning sign, Trading and resistant s Barc S/B
Support and Resistance levels Support 1, 0.56 -11.00% Resistance 1 0.84 33.00% Support 2, 0.51 -18.00% Resistance 2, 1.07 71.00
I have time off tomorrow so will play it by ear, I am not as heavy into Lloyds as I was, due to selling on my last rise from 51p to selling at 55p and moving my investment to AV and BT and DLG some weeks ago. However I bought again at 54p 59p 62.50 so down on one up on two = around 1200.
If the share drops to below 61p I personally will be tempted to sell my 54p and 59p shares and buy back later in the week when the share is more steady, therefore gaining a more genuine picture.
Tomorrow afternoon, the Fed will speak on stimulus’s, which could have an effect on the shares If he decides to scale, back the Fed's QE.
The above is only food for thought, as I personally can see nothing wrong with the bank itself or reason for the share volatility, the bank is making profits, Paying off EU loans, and dividends in sight.
So unless the EU or the Fed comes up with negative news to bring down the market, I think we should continue to make headway. Obviously only my view from news I have read.
Price has dropped a little over the last few days. But considering the market share Lloyds have of the British market, I think this share is still at a bargain price, they have good management now, and seem to be coping with anything that is thrown at them PPI etc.I am holding, but please do your own thing, My prediction was £1.99 by Christmas, probably over egged it a little, but its nice to dream.
i dont mind if it retraces a bit tbh my share accounts just used as my savings as i would get a better return this way when i grow old so ill probably end up topping them up when payday comes on friday
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