Ahead of Referendum, Banks have been moving higher to the points of Breakouts on the charting front............

Referendum optimism sparks banking breakout
By Alistair Strang | Thu, 23rd June 2016 - 10:52 BARCLAYS, LLOYDS, AND RBS (LSE:#victims)

As the world holds its breath for Friday's result, it appears the markets have already decided on an outcome - but we're genuinely unsure whether it's 'Leave' or 'Remain' that tickles the FTSE.

Certainly, every commentator has described the recent rises as remain optimism, something which puzzles due to the plethora of opinion polls favouring a leave vote.

An acquaintance, who's a pretty reliable track record in building trends from opinion poll results, seems pretty convinced of a small leave majority. Perhaps the market is lively because of leave optimism! We shall know on Friday.

One thing we do know is the markets have been forcing the Banking Sector retail shares upward this week. Of the three, Barclays (BARC) has managed to better its immediate downtrend since August last year.

Barclays' one year downtrend is currently at 180.75 and, trading at 182p, is seen as having moved from 'Going Down' to 'Not Going Down'. It's certainly in a zone where some growth toward 204p remains sensible but we really want the share price above 235p before we shall admit it's 'Going Up'.

The interesting thing about all the price manipulation recently (big movement gaps at the open) seems to be the effort employed to remove Barclays from seriously dangerous territory. By trading below blue on the chart below, the price had been flirting with a drop potential to 128p, perhaps even 78p! Anything capable of causing trouble would require forcing Barclays below 148p to 128p initially.

Lloyds (LLOY) tells a slightly different story from Barclays. When we apply the same downtrend to Lloyds as exhibited by Barclays, we find the share price currently requires above 72.798 to escape the ruling downtrend.

This is actually quite a big deal as the share is trading in a region where weakness to 54p makes a lot of sense unless the price betters blue by closing above it. Such an event allows growth toward 83.25p currently, maybe even 92p with positive meerkat conditions. If true trouble is planned for Lloyds, closure below red (currently 57p) on the chart would be rather scary as red is an uptrend since 2011. Closure below imparts sufficient weakness for 30p eventually!

Thankfully there is another detail regarding Lloyds we recently revealed to clients which is providing a remarkable degree of confidence for the future - we hope!

RBS (RBS) is proving a bit of a giggle. The share price currently needed to close above 246.889 to better the blue downtrend. It closed the session at 246.6p! Once RBS actually closes above blue, we can plot a course toward 263p, maybe even 303p sometime in the future. But until above blue, the share is trading in a region where weakness below 206p ultimately allows for 186p with secondary a scary 117p.

thanks for that last post
there's no doubt that odds are now firmly stacked towards "remain" even though we all know that faves don't always win

LLOY down 30% so far on the Brexit news!!!
(House builders down a similar amount)

Tried to buy at 55 on the TD Direct system but it kept on crashing.
Oh well maybe another time.
TT

Jefferies International today reaffirms its buy investment rating on Lloyds Banking Group PLC ORD (LON:LLOY) and set its price target at 68p.

30p I mıght be tempted.

But the knıfe ıs gettıng sharper on the way down agaın.

Bought some at just 51.89p, lets see the bounce now, two days of large drops is just too much not too have a bounce from here

order book still weak

It's still too early to buy LLOY. Now 52p
20-30p is the time to get in...

hlyeo98

and still cheaper if you wait to buy at 5p....... but you will never buy any at 20 or 30p mind you 5p.

Panic over, hopefully will continue its long term journey northwards.

Or a dead cat bounce.....suckers rally!

barclays 2018 will it be half the size it was, informed one out there please reply BB s/p 28..6..16 136p

Be careful of the stray Cat's the Chinese are making a good meal out of them

Banks - All on the up but LLOY the best
LLOY 54.02p +2.87p +5.62%
RBS 179.55p +5.25p +3.04%
BARC 130.60p +3.40p +2.71%
BNC 281.00p +5.50p +2.27%

More to come tomorrow? well the CEO was buying large 100K today and paying high 54.20p........

Director Deals - Lloyds Banking Group PLC ORD (LLOY)

António Horta-Osório, Chief Executive Officer, bought 100,000 shares in the company on the 28th June 2016 at a price of 54.20p. The Director now holds 9,487,681 shares.

LYG 3.07 +10.43%
strong finish on NYSE

LONDON, June 28 (Reuters) - Lloyds Banking Group Chief Executive Antonio Horta Osorio wrote to the bank's 75,000-strong workforce on Tuesday to give reassurances on strategy and group strength in the face of Britain's vote to leave the European Union, a memo seen by Reuters showed.

Britain's biggest mortgage lender saw its shares tumble in the two days following the referendum result but Horta-Osorio said Lloyds had "robust plans in place for either outcome"

LONDON, June 28 (Reuters) - Lloyds Banking Group Chief Executive Antonio Horta Osorio wrote to the bank's 75,000-strong workforce on Tuesday to give reassurances on strategy and group strength in the face of Britain's vote to leave the European Union, a memo seen by Reuters showed.

Britain's biggest mortgage lender saw its shares tumble in the two days following the referendum result but Horta-Osorio said Lloyds had "robust plans in place for either outcome"

lloyds-ceo-reassures-staff-bank's

LLOY is slipping off again, can't hold on to its gain... I can't see much in these 'robust plans' when the whole EU is against us now.

The Bank of England is said to be planning cuts to bank’s capital requirements as early as next week.
According to sources cited by Bloomberg, the central bank’s Financial Policy Committee is looking to reverse a decision taken in March to raise the counter-cyclical capital buffer for UK exposures to 0.5% of risk-weighted assets from zero to help lenders withstand the fallout from the vote to leave the European Union.
That increase, which was meant to become binding from 29 March 2017, was designed to guard against the cycle of banks boosting lending in good times and slashing credit in a downturn.
It was understood that Tuesday’s FPC meeting was dominated by discussions about the stability implications of Brexit. Officials are due to release a statement alongside their bi-annual Financial Stability Report on 5 July, while Bank of England governor Mark Carney will host a press conference that day.
On Thursday, Carney said the FPC will “take any further actions it deems appropriate to support financial stability”.
He suggested the central bank would implement further interest rate cuts over the summer to support the economy after the Brexit vote, noting that the economic outlook had deteriorated.
"The Committee will make an initial assessment on 14 July, and a full assessment complete with a new forecast will follow in the August Inflation Report," Carney said.
"In August, we will also discuss further the range of instruments at our disposal.”

54.56p

Has LLOY finally decided to move forward once more after the last couple days of profit taking?