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Home Furnishings Industry Stocks Technical Analysis - LEGArchive
- 5/10/2024 -
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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 -1.19 points, or -8.53%, and closed at 12.76 on Friday, May 10, 2024. Weekly volume was 72% above average.
LEG is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold 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 LEG long-term trend chart]
A long-term downtrend had started on May 10, 2021 at 59.16 and reached 11.02 on May 1, 2024. LEG lost 48.14 points, or 81.37%, in 155 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend support line (15.84) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support 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 11.02 on May 1, 2024. LEG lost 16.56 points, or 60.04%, in 19 weeks. The chart has formed a Falling Channel chart pattern. The downtrend support line (14.64) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support in a medium-term trend.
 Weekly Technical Indicators: [See LEG weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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, Relative Strength Index 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. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 April 22, 2024 at 18.49 and reached 11.02 on May 1, 2024. LEG lost 7.47 points, or 40.40%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See LEG daily technical indicators chart]
Daily Relative Strength Index is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index.
The daily MACD line is below its signal line since April 30, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.
The distance between the Bollinger Bands (72.1%) is close to one year high (47.60%). It is 445.99% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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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