Lloyds Banking Group PLC (LLOY) - 13th November 2023 | @ 78 Days | + 0.57%
Last trade: + 0.57% | 'B' class signal detected in Lloyds Banking Group PLC (LLOY). Running at an average wavelength of 78 days over 13 iterations since March 2021. Currently troughing.
Lloyds Banking Group, a prominent UK financial institution, emerged in 2009 from Lloyds TSB's acquisition of HBOS. With a rich history dating back over 320 years to the founding of the Bank of Scotland, it serves 30 million customers and employs 65,000 people. Headquartered in London and Edinburgh, it operates across the UK and internationally in the US, Europe, the Middle East, and Asia, with its EU base in Berlin. Brands like Lloyds Bank, Halifax, and Bank of Scotland cater to diverse customer attitudes. Listed on the London Stock Exchange, it's a constituent of the FTSE 100 Index.
ΣL Cycle Summary
From price action alone it seems the ubiquitous 80 day component has likely troughed slightly earlier than expected. As we have seen the equity indices phasing for the same component was very accurate indeed recently, the smoothing inherent in the average working well in that regard. Along with several other instruments, the cycle peak of this wave is due toward the middle of December, but watch for correlation with the indices, which are due to peak toward the start of December.
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.
Type: Sell - Lloyds Banking Group PLC 9th October 2023
Entry: 9th October 2023 @ 42.11
Exit: 13th November 2023 @ 41.87
Current Signal Status
Defining characteristics of the component detected over the sample period.
Time Frequency Analysis
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