Annual Forecast for Lloyds (2022)

PUBLISHED: 10 Jul 2022 @ 07:48 | Comments (0) | More info about Azeez Mustapha

Lloyds Banking Group Plc shares (LSE:LLOY) are weak, and the weakness has been going on for several months. From February 2022 until the present, any rallies in this market are simply opportunities to sell at higher prices.

The ADX period 14 is above level 20, going towards level 30. This means the momentum in the market is quite considerable. The DM+ is below the DM-, which shows that sellers have upper hands.

Likewise, the MACD default parameters, has its signal lines and histogram above the zero line. This, along with what the ADX period 14 is showing, has already generated a Bearish Confirmation Pattern in the market. It is sensible to take sides with bears.

The outlook on LLOY is bearish this year and price could reach the accumulation territories at 40.00, 35.00 and 30.00.

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