Hi Split, dont know what it is like in BCN but in La Coruna it is raining!Splitlink said:The reason that I bought LLOY this morning was because I could see this triangle and, as I could put a logical stop fairly close, I thought it worth a try for a break on the upside.
Any forecasts? While I'm still in the triangle !!!
Split
Anyway, I read LLOY slightly differently.
I see that a few days ago we have a down bar hitting the upper Boll, often (and correct in this case) an indication of reversal. This was combined with a trend line resistance 2 bars (days) prior.
Yesterday we had the fast MA crossing the slow MA (MACD graph) another sign of weakness and down trend.
As I said I see nothing to support the stock until we reach 450 ish and then would like to see a reversal on the MACD before going long.
But what do I know? see my previous post!
Feliz fin de semana
Dave