Lloyds

hi sirrichard
yep its 68.47..thats the closing price of yesterday.

dl.dropboxusercontent.com/u/4899609/lloy1staug.png

Getting really close now WaveSurfer, will be interesting to see where the fibs fit once we have found the top but the Black Horse wants to keep going for sure, so top of Wave 5 target 77/81 would need some really bad news to drive it down to much. First target must be the big gap up from this morning 68.47 oh and can somebody confirm that please as advfn has 71.26 as the low but iii has 66.51 for today and I cant see that.

Tight Lines

SRB

getting close to to that target ....

WaveSurfer wrote: 77/81p

on a w1-3 relationship = ~55x.618 = 35pips
w5 = 35+46 = 81p

rgds WS

dl.dropboxusercontent.com/u/7238706/LLOYDS%20GRP..png

Looks like this is topping-out: all fib targets met; divergence on RSI; stoch/RSI on the wane.

Possible short to the area marked? Supports at 43.36 and 39.25. Then head north yet again.....

Here's an updated fib chart from the 46p rise if anyone is interested.

www.screencast.com/t/FPt2fkm8Tgdc

J many thanks for your thoughts on Lloyds much appreciated. As you have probably guessed I'm a big fan of Lloyds especially long term for (dividend reasons). I must admit that at the moment I'm battling with what the charts are telling me (short term negative) and watching the share being strongly supported and any retrace being fiercely bought. We also have a major share holder looking to off load 39% and would love higher prices above the 61.50 breakeven level to do so. I'm expecting the general markets to ease off a tad during this USA holiday week so I will keep a close eye on the sp and realise that any longs could be short lived (possible wave 5 70/80 target and major resistance), thanks again.

SRB