LHCG closes within prior day's range after lackluster session

LHC Group (LHCG) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team


LHCG closes lower for the 2nd day in a row
LHCG closes within previous day's range after lackluster session


Moving lower for the 2nd day in a row, LHCG finished the week 2.01% higher at 158.11 after losing $0.58 (-0.37%) today on low volume, underperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session.

Daily Candlestick Chart (LHCG as at Feb 14, 2020):

Daily technical analysis candlestick chart for LHC Group (LHCG) as at Feb 14, 2020

Friday's trading range has been $1.55 (0.98%), that's below the last trading month's daily average range of $2.68. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for LHCG.

Despite a strong opening LHC Group closed below the prior day's open and close, forming a bearish Engulfing Candle. The last time this candlestick pattern showed up on January 29th, LHCG actually gained 0.81% on the following trading day.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Buying might accelerate should prices move above the close-by swing high at 159.48 where further buy stops could get triggered.

Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Engulfing Candle" stand out. Its common bearish interpretation has been confirmed for LHC Group. Out of 111 times, LHCG closed lower 59.46% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 55.86% with an average market move of -0.60%.

Market Conditions for LHCG as at Feb 14, 2020

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