LNC closes higher for the 2nd day in a row
Lincoln National Corporation (LNC) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, LNC finished the week 3.35% higher at 67.24 after surging $2.03 (3.11%) today on high volume. This is the biggest single day gain in over four months. Today's closing price of 67.24 marks the highest close since August 8th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 65.32, the share confirms its breakout through the prior session's high having traded $1.98 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (LNC as at Sep 14, 2018):
Friday's trading range was $1.89 (2.89%), that's far above last trading month's daily average range of $1.07. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 67.03 today, it is now likely to act as support going forward.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already. The market managed to break above the 100-day moving average at 66.57 today for the first time since March 9th.