|Barclays plc, RBS and Lloyds Banking Group: The share chart technical indicators are cooling|
|Friday, 14 October 2011 08:31|
Business News Roundup: RBS, Lloyds Banking Group, Barclays, Glencore Bumi deal, Google beats Wall Street, CBI.
The team at Investors Intelligence have this morning updated clients on where the share price of the UKs leading banks have been, and could be headed:
Barclays plc (LON:BARC) - Countermanded the entire upside breakout. This bodes ill on its short-term trend. The next key question is whether prices will stay above the 150p level. Should this line fails, reduce longs.
Royal Bank of Scotland Group plc (LON:RBS) - Crossed above the 50-day moving average but failed to lead to upside follow-through. This is a sign of an impending 'bull trap'. A test of the mid-range at 23p is possible. Watch to reduce if this level fails.
Lloyds Banking Group plc (LON:LLOY) - Encountered strong resistance at 36-38p to snuff out the recovery rally. Medium-term, the downtrend prevails. So, we would not rule out a test of the 30p support.
Spain takes a sovereign debt rating hit
Glencore looks to get into Bumi
Google results 'defy' slowdown
Newer news items:
Older news items:
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