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Uptrend SupportArchive
- 4/19/2024 -
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Leggett & Platt (LEG) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Leggett & Platt (LEG). During the week, the LEG gained 0.60 points, or 3.40%, and closed at 18.26 on Friday, April 19, 2024. It was the best weekly gain since February 23, 2024. Weekly volume was 9% 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 17.19 on April 17, 2024. LEG lost 41.97 points, or 70.94%, in 153 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 16.38 and resistance is at 22.82. 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 17.19 on April 17, 2024. LEG lost 10.39 points, or 37.67%, in 17 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (14.14) is broken. A broken support is considered to be a long-term bullish signal. 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 LEG weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 uptrend had started on April 17, 2024 at 17.19 and reached 18.28 on April 19, 2024. LEG gained -1.09 points, or -6.34%, in 2 days. Price is near the trend high.
 Daily Technical Indicators: [See LEG daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
A Parabolic SAR (stop and reversal) indicator (18.39) comes close to the price (18.26). It indicates that the trend is getting weaker. 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.
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