L closes within prior day's range after lackluster session

Loews Corporation (L) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


L fails to close above 20-day moving average
L stuck within tight trading range
L closes within previous 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.

Daily Candlestick Chart (L as at May 17, 2018):

Daily technical analysis candlestick chart for Loews Corporation (L) as at May 17, 2018

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.

Market Conditions for L as at May 17, 2018

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