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Archive - 3/15/2024 - Sign In to see current Signals. |
Loblaw Companies Limited (L) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a second consecutive positive week for the Loblaw Companies Limited (L). During the week, the L gained 2.13 points, or 2.85%, and closed at 76.97 on Friday, March 15, 2024. It was the best weekly gain since November 24, 2023. L was trading at average weekly trading volume. L is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See L long-term trend chart] A long-term uptrend had started on September 26, 2022 at 49.36 and reached 76.99 on March 15, 2024. L gained -27.63 points, or -55.98%, in 76 weeks. Price is near the trend high. Medium-term trend: [See L medium-term trend chart] A medium-term uptrend had started on March 24, 2023 at 52.84 and reached 76.99 on March 15, 2024. L gained -24.15 points, or -45.70%, in 51 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (71.82) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend. Weekly Technical Indicators: [See L weekly technical indicators chart] Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, 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, Relative Strength Index and Williams' Percentage Range help. The weekly MACD line is above its signal line since June 2, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See L short-term trend chart] A short-term uptrend had started on December 15, 2023 at 67.20 and reached 76.99 on March 15, 2024. L gained -9.79 points, or -14.57%, in 91 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (75.11) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend. Daily Technical Indicators: [See L daily technical indicators chart] Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Lane's Stochastic. During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal. The price has closed on Friday above the upper Bollinger Band. It is considered a bullish 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.
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