This is according to the technical team at Trading Central who warn that should the Lloyds share price break below 32 then 30.25 and 29.25 could be reached.
Commenting on their analysis, Trading Central say:
"The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 32.35 and 31.19)."
Osborne and ministers told to get moving
Business has called on ministers “to get some political backbone and show some leadership”, as the two largest industry lobby groups - the CBI and BCC - slashed their growth forecasts for the year, rounded on the Government for failing to kick-start the economy, and warned the Chancellor that he may miss his deficit reduction goals.
Demanding “swift action”, the British Chambers of Commerce (BCC) also cut its 2012 forecast, from 0.1pc growth to a contraction of 0.4pc, and warned that the Chancellor is on course to miss his deficit target by “two to three years” as borrowing balloons on the back of weaker than expected tax receipts.
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
No comments:
Post a Comment