LNT ends the day on a bearish note closing near the low of the day


Alliant Energy Corp (LNT) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
LNT closes below its opening price unable to hold early session gains
LNT finds support at 20-day moving average
LNT ends the day on a bearish note closing near the low of the day
LNT closes within previous day's range
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

LNT finished the week -0.09% lower at 42.72 after losing $0.06 (-0.14%) today. Trading $0.22 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for LNT
Volatility

Friday's trading range was $0.57 (1.33%), that's slightly below last trading month's daily average range of $0.63. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 42.41. After trading as low as 42.63 during the day, the stock found support at the 20-day moving average at 42.63.

Trend

Though Alliant Energy is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 43.38 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 42.25 where further sell stops could get activated. With prices trading close to this year's high at 43.95, upside momentum might accelerate should the share be able to break out to new highs for the year.

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 Alliant Energy Corp
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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