LH fails to close above 200-day moving average


Laboratory Corporation of America Holdings (LH) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team

Highlights

LH closes above its opening price after recovering from early selling pressure
LH fails to close above 200-day moving average
LH closes higher for the 5th day in a row
LH rises to highest close since August 29th
LH closes within previous day's range after lackluster session

Overview

Moving higher for the 5th day in a row, LH finished the week 3.17% higher at 172.98 after gaining $0.45 (0.26%) today. Today's closing price of 172.98 marks the highest close since August 29th. Trading up to $0.49 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (LH as at Sep 14, 2018):

Daily technical analysis candlestick chart for Laboratory Corporation of America Holdings (LH) as at Sep 14, 2018

Friday's trading range was $1.16 (0.67%), that's far below last trading month's daily average range of $2.30. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

Prices are trading close to the key resistance level at 174.01. After spiking up to 173.41 during the day, the share found resistance at the 200-day moving average at 173.02.

Laboratory Corp. shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.


Market Conditions for LH as at Sep 14, 2018

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