LLOY.L unable to break through key resistance level


Lloyds Banking Group (LLOY.L) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
LLOY.L closes below its opening price unable to hold early session gains
LLOY.L unable to break through key resistance level
LLOY.L ends the day on a bearish note closing near the low of the day
LLOY.L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

LLOY.L ended the week -0.13% lower at 62.41 after losing £0.15 (-0.24%) today. Trading £0.36 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for LLOY.L
Volatility

Friday's trading range was £0.76 (1.21%), that's below last trading month's daily average range of £0.88. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Support/Resistance

Unable to break through the key technical resistance level at 62.73, the market closed below it after spiking as high as 63.08 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 61.76 where further sell stops might get triggered. As prices are trading close to July's low at 61.54, downside momentum could speed up should Lloyds Banking mark new lows for the month.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for Lloyds Banking Group
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Lloyds Banking Group traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

ETHUSD 462.3514.38 3.21%
BTCUSD 7,414.9082.64 1.13%
GBPUSD 1.31350.0120 0.92%
GOLD 1,231.99.4 0.77%
HSI 28,224.48213.62 0.76%
INDU 25,058.12-6.38 -0.03%
NDX 7,350.23-2.13 -0.03%
FTSE 7,678.79-5.21 -0.07%
NATGAS 2.733-0.002 -0.07%
SPX 2,801.83-2.66 -0.09%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV88.91 -1.04
-1.16%
ACN 10 day candlestick chart for ACN166.52 -0.37
-0.22%
ADBE 10 day candlestick chart for ADBE257.54 -0.14
-0.05%
AAP 10 day candlestick chart for AAP142.67 -0.70
-0.49%
AES 10 day candlestick chart for AES13.03 0.00
0.00%
AET 10 day candlestick chart for AET187.22 -2.82
-1.48%
AFL 10 day candlestick chart for AFL43.06 0.17
0.40%
AMG 10 day candlestick chart for AMG148.84 -0.47
-0.31%
A 10 day candlestick chart for A63.85 -0.30
-0.47%
ABT 10 day candlestick chart for ABT63.32 -0.46
-0.72%