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- 4/5/2024 -
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Leggett & Platt (LEG) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Leggett & Platt (LEG). During the week, the LEG dropped -0.46 points, or -2.40%, and closed at 18.69 on Friday, April 5, 2024. Weekly volume was 36% 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 17.81 on March 26, 2024. LEG lost 41.35 points, or 69.90%, in 150 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 16.75 and resistance is at 23.30. 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 17.81 on March 26, 2024. LEG lost 9.77 points, or 35.42%, in 14 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (15.44) 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. 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 2, 2024 at 18.11 and reached 19.09 on April 4, 2024. LEG gained -0.98 points, or -5.41%, in 2 days. The price is now at the 40.82% retracement level.
 Daily Technical Indicators: [See LEG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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