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- 3/15/2024 -
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Leggett & Platt (LEG) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are oversold
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price is below the lower Bollinger BandWilliams' Percentage Range is oversold
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It was the negative week for the Leggett & Platt (LEG). During the week, the LEG dropped -1.82 points, or -8.90%, and closed at 18.64 on Friday, March 15, 2024. Weekly volume was 76% above average.

Long-term trend: [See LEG long-term trend chart]
A long-term downtrend had started on May 10, 2021 at 59.16 and reached 18.34 on March 15, 2024. LEG lost 40.82 points, or 69.00%, in 148 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 17.26 and resistance is at 23.98. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.

Medium-term trend: [See LEG medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 27.58 and reached 18.34 on March 15, 2024. LEG lost 9.24 points, or 33.50%, in 13 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 17.26 and resistance is at 19.75. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See LEG weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since February 9, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See LEG short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 21.03 and reached 18.34 on March 15, 2024. LEG lost 2.69 points, or 12.79%, in 11 days. The price is now at the 11.15% retracement level.

Daily Technical Indicators: [See LEG daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.89
Williams' Percentage Range (W%R) 97.80
Strong Oversold
Lane's Stochastic (%D-Slow) 21.29
Greed/Fear Indicator (GFI) 17.47
Oversold
Moving Average Converg./Diverg. (MACD) -0.71
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 20.05
Williams' Percentage Range (W%R) 99.30
Strong Oversold
Lane's Stochastic (%D-Slow) 9.39
Strong Oversold
Greed/Fear Indicator (GFI) 14.23
Oversold
Moving Average Converg./Diverg. (MACD) -1.55
Trading Signals
Description Value Chart
50 Day Moving Average 22.11
Upper Bollinger Band 21.65
Parabolic System 20.75
20 Day Moving Average 20.20
Monthly Trendline Resistance 19.75
Lower Bollinger Band 18.99
Weekly Stochastic Crossing 18.98
Price 18.64
Daily Stochastic Crossing 18.61
Yearly Trendline Support 17.26
Monthly Trendline Support 17.26
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Home Furnishings 20
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 20.74
High Date 03/11/2024
Low 18.34
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 21.03
High Date 03/04/2024
Low 18.34
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 19.75
Support 17.26
High 27.58
High Date 12/14/2023
Low 18.34
Low Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 38.55
High Date 02/02/2023
Low 18.34
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 23.98
Support 17.26
High 59.16
High Date 05/10/2021
Low 18.34
Low Date 03/15/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.