Will Lloyds break support, or will it rise again to 66p highs?

• 56.5p support since February; Now trading 58p. (at time of writing)
• Will the pattern repeat itself, rising back to April highs of 66p?
• Shares at -13.3% from 2019 highs; +15.4% from 2019 lows; +11.6% year-to-date.
• 28 May: Davy say Lloyds could boost its share buyback; upgrades to Outperform
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Lloyds – An Example

Let’s say you like the Lloyds support, you think it’s heading back up to 66p. You decide to buy exposure to £10,000 worth of Lloyds using a CFD, at the current price of 58p. To do this, you need £2,000.

Let’s assume Lloyds rises back to 66p (+13%). Your profit would be £1300, from your initial investment of £2000.

Conversely, let’s assume you open the above position, and place a stop-loss at 3% from the current price. Lloyds falls 3% and hits your stop-loss. Your loss would be £300.

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