LEG finds support at 50-day moving average

Leggett & Platt (LEG) Technical Analysis Report for Apr 16, 2018


LEG pushes through key resistance level
LEG closes above its opening price after recovering from early selling pressure
LEG pushes through 50-day moving average
LEG finds support at 50-day moving average
LEG pushes through previous session high

TQ Sentiment

Report Sentiment: 55% Bullish
Technical Forecast:


LEG ended Monday at 44.77 gaining $0.44 (0.99%). Today's closing price of 44.77 marks the highest close since April 5th. Trading up to $0.31 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 44.71, the stock confirms its breakout through the prior session's high having traded $0.34 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for LEG


Monday's trading range was $0.69 (1.54%), that's below last trading month's daily average range of $0.91. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.


Breaking through the key resistance level at 44.74 today, it is now likely to act as support going forward. After trading as low as 44.36 during the day, the share found support at the 50-day moving average at 44.48.


Although LEG is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The market managed to break above the 50-day moving average at 44.48 today for the first time since April 4th.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 45.26 where further buy stops could get activated. Selling might speed up should prices move below the nearby swing low at 44.04 where further sell stops could get triggered. As prices are trading close to April's high at 45.26, upside momentum might accelerate should the stock mark new highs for the month.


Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Leggett & Platt

Loading Market Conditions for $LEG (Leggett & Platt)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Leggett & Platt traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

AAP 10 day candlestick chart for AAP 169.60 1.95 (1.16%)
ADNT 10 day candlestick chart for ADNT 42.67 1.25 (3.02%)
ALSN 10 day candlestick chart for ALSN 51.90 -0.21 (-0.40%)
AMCX 10 day candlestick chart for AMCX 64.16 0.35 (0.55%)
AN 10 day candlestick chart for AN 43.91 0.82 (1.90%)
APTV 10 day candlestick chart for APTV 87.30 1.29 (1.50%)
ARD 10 day candlestick chart for ARD 16.60 -0.06 (-0.36%)
ARMK 10 day candlestick chart for ARMK 42.85 0.04 (0.09%)
ATR 10 day candlestick chart for ATR 111.13 -0.46 (-0.41%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!