LNC closes within previous day's range after lackluster session

Lincoln National (LNC) Technical Analysis Report for Apr 16, 2018

Highlights

LNC unable to break through key resistance level
LNC runs into sellers again around 70.52
LNC rises to highest close since April 5th
LNC closes within previous day's range after lackluster session
LNC ends the day indecisive

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

LNC finished Monday at 70.00 gaining $0.74 (1.07%). Today's closing price of 70.00 marks the highest close since April 5th. Closing within the previous day's range, prices failed to decisively move beyond the prior 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 chart for LNC

Volatility

Monday's trading range was $1.04 (1.49%), that's far below last trading month's daily average range of $1.97. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

After moving lower in the previous session, the stock managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Unable to break through the key technical resistance level at 70.13, the market closed below it after spiking as high as 70.52 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move above 70.51 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 70.52.

Trend

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

Order Flow

As prices are trading close to April's high at 72.76, upside momentum might accelerate should LNC mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Lincoln National

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