Lloyds Banking Group Plc Stock Forecast

Lloyds Banking Group Plc stock upgraded to Buy Candidate.
(Updated on Jun 17, 2024)

LYG Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -3.17%. 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). 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 $2.73 and $2.73. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Monday, April 29, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Lloyds Banking Group Plc stock

Lloyds Banking Group Plc finds support from accumulated volume at $2.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0500 between high and low, or 1.85%. For the last week the stock has had daily average volatility of 1.62%.

Our recommended stop-loss: $2.61 (-5.06%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 43 days ago.)

Trading Expectations (LYG) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Lloyds Banking Group Plc to open at $2.74, and during the day (based on 14 day Average True Range), to move between $2.69 and $2.81, which gives a possible trading interval of +/-$0.0569 (+/-2.07%) 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 4.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.76 (0.36%) than the support at $2.74 (0.36%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.341 Buy Candidate Upgraded

Predicted Opening Price for Lloyds Banking Group Plc of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.