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Financials

Lloyds Banking Group (LYG) : Attempting to break through Chikou Span resistance

LYG is trying to break through the resistance of $4.03 set last week (as indicated by the green line).

My target for LYG is $5.00 as identified by the next Chikou Span.

Assuming it break through $4.03, we can see that Chikou Span face very little resistance ahead.

All we need is a little catalyst for that to happen. At the same time, I do think that LYG will consolidate at this level first before making its run to $5.

Categories
Financials

Lloyds Banking Group (LYG) : Double Bottom with Ichimoku cros

Yesterday, I saw a news on LYG highlighting that it may offload some of its property assets into a REIT.

What follows was a study of the Ichimoku chart below :