Lloyds Banking Group plc Stock Forecast
Green day on Monday for Lloyds Banking Group plc
(Updated on Apr 22, 2024)
The Lloyds Banking Group plc stock price gained 0.432% on the last trading day (Monday, 22nd Apr 2024), rising from £50.92 to £51.14. During the last trading day the stock fluctuated 1.59% from a day low at £51.10 to a day high of £51.91. The price has risen in 6 of the last 10 days but is still down by -4.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 million more shares were traded than the day before. In total, 130 million shares were bought and sold for approximately £6.65 billion.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £50.55 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 30.21% during the next 3 months and, with a 90% probability hold a price between £65.81 and £73.56 at the end of this 3-month period.
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LLOY.L Signals & Forecast
The Lloyds Banking Group plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £50.76 and £50.61. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -5.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Lloyds Banking Group plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £45.96 and £41.89. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lloyds Banking Group plc finds support just below today's level at £45.96. If this is broken, then the next support from accumulated volume will be at £41.89 and £41.88.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £0.81 (1.59%) between high and low. For the last week, the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: £48.64 (-4.90%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (LLOY.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Lloyds Banking Group plc to open at £51.38, and during the day (based on 14 day Average True Range), to move between £50.05 and £52.23, which gives a possible trading interval of +/-£1.09 (+/-2.13%) up or down from last closing price. If Lloyds Banking Group plc takes out the full calculated possible swing range there will be an estimated 4.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £51.61 (0.92%) than the support at £45.96 (10.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Lloyds Banking Group plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lloyds Banking Group plc stock to perform well in the short-term.
Current score: 3.732 Buy Candidate Unchanged
Predicted Opening Price for Lloyds Banking Group plc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £51.38 ( 0.472%) | £51.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LLOY.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.19 | 2.06 % | |
| R2 | 51.88 | 1.45 % | ||
| R1 | 51.69 | 1.08 % | ||
| Current price: | 51.14 | |||
| Support | S1 | 51.07 | -0.135 % | |
| S2 | 50.88 | -0.510 % | ||
| S3 | 50.57 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.96 | 5.51 % | |
| R2 | 51.73 | 1.15 % | ||
| R1 | 51.61 | 0.92 % | ||
| Current price | 51.14 | |||
| Support | S1 | 45.96 | -10.14% | |
| S2 | 41.89 | -18.09% | ||
| S3 | 41.88 | -18.11% |
LLOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 21, 2024 | £1.84 | 3.60% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £0.92 | 2.14% |
| 3 | Feb 22, 2023 | Apr 13, 2023 | May 23, 2023 | £1.60 | 3.36% |
| 4 | Jul 27, 2022 | Aug 04, 2022 | Sep 12, 2022 | £0.80 | 1.70% |
| 5 | Feb 24, 2022 | Apr 07, 2022 | May 19, 2022 | £1.33 | 3.06% |
FAQ
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