LNT declines to lowest close since April 12th
Alliant Energy Corp (LNT) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (LNT as at May 17, 2018):
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.
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.
The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
Further selling might move prices lower should the market test April's close-by low at 40.34.