LNT pops to highest close since January 2nd
Alliant Energy Corporation (LNT) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (LNT as at Apr 16, 2018):
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.
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.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.
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.