Lloyds share price has been unable to shake off the negative sentiment generated by the downgrade of its stock by Goldman Sachs.
Goldman Sachs downgraded the stock to “sell” on Thursday and subsequently cut its price target from 50p to 45p, where it currently trades.
The stock just added a few points to the upside in the course of writing, allowing it to notch up gains of 1.13%. However, it remains a battle to see whether Lloyds share price wound the week higher or not as the price remains a little above Monday’s open of 46.41.
Lloyds Share Price Outlook
Price continues to trade around Thursday’s close. The outlook remains the same as before, with a return to the uptrend requiring a sequential break of the 46.615, 48.125, 49.205 and 50.435 price levels.
On the flip side, a decline below 44.99 extends the correction, targeting potential downside areas at 43.85 and 42.99. A breakdown of the latter could mean a bearish reversal for Lloyds share price, aiming for lows at 42.015, which was last seen in April.