L closes within prior day's range after lackluster session
L ended Thursday at 51.45 gaining $0.15 (0.29%) on low volume. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.
Thursday's trading range was $0.44 (0.86%), that's below last trading month's daily average range of $0.66. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 51.02 and 51.61 which it has been in now for the last three days.
In spite of a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle.
After spiking up to 51.61 during the day, Loews Corp. found resistance at the 20-day moving average at 51.49.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 52.16 where further buy stops could get triggered. Selling might accelerate should prices move below the close-by swing low at 51.02 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.
Market Conditions for Loews Corp.
|Bearish Bounce off SMA 50||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|RSI(2) above 80||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
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