Lloyds

farmertim ,, what can I say ,,,really appreciate the time/thoughts that you have put into your response ,,, I cant thank you enough ,,,,

Daily log chart, horizontal and vertical counts correlating. From this perspective , the targets to 86 and 84 are active. If Lloyds finishes the day above 86.29, the active bearish targets will be removed.

In my view, there does not appear to be a lot in the way up to 114.



On the 1 min charts, 82.33 is the only active target left. There are no bearish targets active. 83.41 has been given but is not yet active, the price needs to break above 81.84 without passing below 81.03. As it stands I would expect some more intraday volatility in the share before it reaches the 86.29 level.



Looking at the RSI trend line, it looks like the trend is broken, it will be interesting to see how strong the share price responds.
on the side of chart is a volume histogram showing at which price the greatest activity happened. This can also represent the significant resistance level, if this breaks then I strongly reconsider the position before waiting to see if it breaks the low of the trading range at 70. The range, from a volume perspective appears to be greatest between 74 and 77.



Assuming the retrace from 86.87 to 70 was the retracement the 23.6% (from the very low of 21) the P&F targets would suggest the 61.8% extension of 112 is a feasible target.

(Very much opinion and assumption not advice)
Best wishes with the trade

ft

Thanks for that Diver, I reckon I'm going to put an order in for that area with some tight stops just in case they are targeting it, thanks again.

According to PRT there is a gap. July 31st close 68.23; Aug 1st open 71.95, low 71.24....


dl.dropboxusercontent.com/u/7238706/Lloy...%20PLC%20%28-%29.png

Could someone please confirm whether Lloyds has a gap up on the 01/08/13. I have iii showing a low on the 1st of 68.75 so no gap and ADVFN has a low of only 71.26 so big gap.

Many thanks

Sorry Amo, I should have made it clear the deviation I spoke of should be on the RSI. More haste less speed eh:)