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LNT declines to lowest close since April 12th


Technical Analysis Report for LNT - May 17, 2018 [1 min read]
Highlights
LNT closes below its opening price unable to hold early session gains
LNT fails to close above 50-day moving average
LNT closes lower for the 5th day in a row
LNT ends the day on a bearish note closing near the low of the day
LNT finds buyers again around 40.54
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 5th day in a row, LNT ended Thursday at 40.64 losing $0.25 (-0.61%). Today's closing price of 40.64 marks the lowest close since April 12th. Trading $0.26 higher after the open, Alliant Energy was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous 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

Thursday's trading range was $0.59 (1.44%), that's slightly below last trading month's daily average range of $0.61. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 40.46. After having been unable to move lower than 40.57 in the prior session, the share found buyers again around the same price level today at 40.54. After spiking up to 41.13 during the day, the stock found resistance at the 50-day moving average at 41.06.

Trend

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Further selling might move prices lower should the market test April's close-by low at 40.34.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bearish Bounce off SMA 50 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
5 Consecutive Lower Closes TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

LNT breaks key support level

May 21, 2018
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