Saxo

Lloyds Bank: Buying the Dip

Long
LSE:LLOY   LLOYDS BANKING GROUP PLC ORD 10P
Lloyds Bank - Short Term - We look to Buy at 50.06 (stop at 48.36)

Preferred trade is to buy on dips. Previous resistance, now becomes support at 50.00. 50 1day EMA is at 49.80. The 50% Fibonacci retracement is located at 50.18 from 44.36 to 56.00. This move is expected to continue and we look to set longs at good risk/reward levels.

Our profit targets will be 55.99 and 57.95

Resistance: 56.00 / 60.00 / 65.00
Support: 50.00 / 47.50 / 45.00

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