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LNT pops to highest close since January 2nd


Technical Analysis Report for LNT - Apr 16, 2018 [< 1 min read]
Highlights
LNT finds buyers at key support level
LNT closes higher for the 2nd day in a row
LNT pushes through previous session high
LNT rises to highest close since January 2nd
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, LNT finished Monday at 41.59 surging $0.48 (1.17%) on low volume. Today's closing price of 41.59 marks the highest close since January 2nd. Closing above Friday's high at 41.23, the market confirms its breakout through the prior session's high having traded $0.51 above it intraday.

Daily chart for LNT
Volatility

Monday's trading range was $0.49 (1.19%), that's below last trading month's daily average range of $0.65. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 41.25 during the day, the stock bounced off the key support level at 41.27. The failure to close below the support might increase that levels importance as support going forward.

Trend

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

With prices trading close to this year's high at 42.36, upside momentum could 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.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Support S1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

LNT finds buyers again around 41.82

Apr 25, 2018
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