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Archive
- 4/26/2024 -
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Loblaw Companies Limited (L) Technical Analysis
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| Summary:
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| | It was the negative week for the Loblaw Companies Limited (L). During the week, the L gave back -0.18 points, or -0.24%, and closed at 75.46 on Friday, April 26, 2024. Weekly volume was -17% below average.
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 78.55 on March 28, 2024. L gained -29.19 points, or -59.14%, in 78 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 60.53 and resistance is at 79.63. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See L medium-term trend chart]
A medium-term uptrend had started on March 24, 2023 at 52.84 and reached 78.55 on March 28, 2024. L gained -25.71 points, or -48.66%, in 52 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 74.66 and resistance is at 78.98. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See L weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. 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 April 17, 2024 at 72.91 and reached 77.07 on April 25, 2024. L gained -4.16 points, or -5.71%, in 8 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See L daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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