Lloyds Banking Group Price: LLOY Bends Down, Holds a Bullish Path

PUBLISHED: Sep 09 2024 @ 11:37 | Comments (0) | More info about Azeez Mustapha

It has been somewhat demonstrated that the Lloyds Banking Group Plc (LSE:LLOY) bends down, keeping a bullish path above the lower trade line of 55.

If the downward-bending view continues to build, the support levels at about 52.5 will serve as a safety net for recovering strong rebounding periods. Buyers should proceed with considerable care before setting orders in the interim as the oscillating tools have just moved southward into the oversold area.

Resistance Levels: 60, 62.5, 65
Support Levels: 52.5, 50, 47.5

What could be subsequent price actions if the smaller EMA intercepts the bigger to the downside as the LLOY Plc stock trades around 57.58 or thereabouts?
There might be some lower lows if a short downward-crossing mode occurs between the moving averages as the Lloyds Banking Group Plc shares market bends down, keeping a bullish path.

The indicators’ positioning shows that the 15-day EMA trend line is closely above the 50-day EMA trend line. The stochastic oscillators have entered the oversold area, indicating that the decline may soon come to a stop. Purchasers need to be wary of 55 and 52.5 points while launching longing orders.

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