Looking to add to an existing holding on lloyds.
We have the following Confluences / Observations;
1) Initial push above EMA and close above
2) Consolidation of these gains at around 36p (not a fake out)
3) Rejection of a move below EMAs and another push higher
4) There was then some rejection from the 40p region and further consolidation again at 36p - showing this as an emerging area of Support
RISKS
1) It does look as though there is momentum divergence to the downside (momentum creating a lower high, and then falling rapidly)- this is not to say that price should sharply decline, but rather that another push higher isnt just around the corner - so dont get in too early as the stock may continue its consolidation for a while
2) Predictions of a house price crash in 2021 have hampered the shares, as seen by the bearish engulfers at 40p & 38p
I will be looking to buy again if price pushes down to the 35-36p region and this area holds (dont buy into a rapidly falling market!)
We have the following Confluences / Observations;
1) Initial push above EMA and close above
2) Consolidation of these gains at around 36p (not a fake out)
3) Rejection of a move below EMAs and another push higher
4) There was then some rejection from the 40p region and further consolidation again at 36p - showing this as an emerging area of Support
RISKS
1) It does look as though there is momentum divergence to the downside (momentum creating a lower high, and then falling rapidly)- this is not to say that price should sharply decline, but rather that another push higher isnt just around the corner - so dont get in too early as the stock may continue its consolidation for a while
2) Predictions of a house price crash in 2021 have hampered the shares, as seen by the bearish engulfers at 40p & 38p
I will be looking to buy again if price pushes down to the 35-36p region and this area holds (dont buy into a rapidly falling market!)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.