Will Lloyds break support, or will it rise back to 66.4p?

• 61.7-66.4p range since mid-March, bounced off floor
• Now trades 62.3p (at time of writing)
• Will the pattern repeat itself, testing previous 66.4p ceiling?
• Shares -6.4% from 2019 highs; +24.7% from 2019 lows; +20.6% year-to-date.
• 2 May: Q1 operating profits beat expectations; reiterates FY guidance
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Lloyds – An Example

Let’s say you like the range, you think it’s heading back towards 66.4p again. You decide to buy exposure to £10,000 worth of Lloyds using a CFD, at the current price of 62.3p. To do this, you need £2,000.

Let’s assume Lloyds rises to 66.4p (+6.5%). Your profit would be £650, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 2% from the current price. Lloyds falls 2% and hits your stop-loss. Your loss would be £200.

This is provided for information purposes only. It should not be taken as a recommendation.