Tech: Lloyds Banking Group + Barclays plc: LLOY forecasted higher while BARC is forecasted lower, both stocks in the red on Friday morning
- Category: Share Price Drivers
- Published on Friday, 26 April 2013 09:47
- Written by Sam Coventry
Latest technical insights for Lloyds Banking Group plc and Barclays plc.
Lloyds Banking Group PLC (LON:LLOY): Gains towards 55?
At present we see Lloyds Banking Group PLC (LON:LLOY) shares some 1.15 pct in the red at 52.56.
At current levels the stock looks well supported say Trading Central in their latest analysis of the LLOY stock; the pivot point is seen at 49.
Above this level the share price is tipped to head towards 55.75, however a break below 49 invites a move towards 47 and 45.75.
"The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the stock is above its 20 and 50 day MA (respectively at 48.48 and 50.71). Finally, Lloyds Banking Group is trading above its upper Bollinger band (standing at 51.07)," say Trading Central.
Barclays plc (LON:BARC): Downmoves towards 260
Barclays plc (LON:BARC) is 1.90% down on last night's closing level at 288.15.
Analysts at Trading Central say, "as long as 323 is not broken up, we favour a down move with 260 and then 245 as next targets.
"Only the upside breakout of 323 will invalidate our bearish scenario. In this case, a recovery should shape towards 355 at first, and then 384," say Trading Central, "in the short term, the daily indicators are mixed and thus the stock could remain confined between 260 and 323.
Markets: European equities
European equities have eased slightly this morning following a modest pull-back into close in the US as caution crept in ahead of today’s GDP figure and as Asian markets trade mixed.
"UK GDP came in at top estimates yesterday and critics of the coalition’s austerity measures were notably quiet. Despite the good figure though, George Osborne was bereft of any cocksure ‘I told you so’ comments and instead warned that turbulent times still lay ahead. Markets were equally chagrin with the FTSE 100 gaining a mere 10 points," says Marius Paun at Capital Spreads.
Some way to go before gold is everyone's darling again
The commodities sector remains in focus with gold recouping much of the hefty losses made last week.
"In an eight day struggle gold managed to recoup roughly half of mid April’s violent selloff. Yesterdays’ $37.2 rally to $1467.8 was the result of rising demand for physical, including bars, coins and jewellery, coupled with ongoing bargain hunting. However, it’s probably too early to suggest a shift back to the times when gold was everyone’s darling," says Paun.
Newer news items:
- Greene King plc + Greggs plc: GNK bid higher, GRG sells off as high street brands report differing fortunes - 29/04/2013 11:27
- Lloyds Banking Group: LLOY shares boosted on news of disposal of Spanish business for +- 89m GBP in shares and cash - 29/04/2013 09:43
- Market Snap: BP plc shares 0.5 pct despite 4bn USD project overshoot, Lloyds Banking Group in CLO deal, AstraZeneca plc to meet unions over R&D closure plans - 29/04/2013 09:05
- BT Group plc vs SKY Sports : "Like a war without the killing" + BT bundle would need to be GBP 10 cheaper say consumers - 26/04/2013 11:19
- QUALCOMM, Inc. : QCOM shares to be approached with caution as chart signals remain mixed, investors await release of US GDP data - 26/04/2013 11:02
Older news items:
- British American Tobacco plc + Unilever Plc : BATS and ULVR extend post-IMS gains, Nomura and Soc Gen analysts adjust ratings - 26/04/2013 08:39
- Pearson plc : PSON shares pushed higher; but investor enthusiasm tempered by challenging 'external environment' - 26/04/2013 07:50
- QUALCOMM, Inc. (QCOM) shares in the red; "Weakness in either the top line or earnings progression is going to hit the stock disproportionately hard" - 25/04/2013 12:20
- Vodafone Group plc + Standard Life Plc: VOD and SL surge higher as fresh upgrades are issued by Deutsche Bank - 25/04/2013 12:04
- Barclays PLC + BG Group plc: BARC and BG see downgrades issued; BARC finds no love from Berenberg who sees share price halving - 25/04/2013 11:40
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