LGF-B pushes through Tuesday's high
Lions Gate Entertainment Corporation Class B Non-Voting Shares (LGF-B) Technical Analysis Report for Sep 16, 2020 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, LGF-B ended Wednesday at 9.24 gaining $0.15 (1.65%), notably outperforming the S&P 500 (-0.46%). Today's close at 9.24 marks the highest recorded closing price since February 21st. Closing above Tuesday's high at 9.19, Lions Gate confirmed its breakout through the prior session high after trading up to $0.16 above it intraday.
Daily Candlestick Chart (LGF-B as at Sep 16, 2020):
Wednesday's trading range has been $0.20 (2.18%), that's below the last trading month's daily average range of $0.29. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for LGF-B.
Prices are trading close to the key technical support level at 9.09 (S1).
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.