Leggett & Platt $LEG Technical Update – Stock Traders Daily

This post was originally published on this site

Leggett & Platt $LEG Technical Update

The Leggett & Platt (NYSE: LEG) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for LEG, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.

Review the Trading Plans:

Technical Summary

Term → Near Mid Long
Bias Neutral Neutral Neutral
P1 45.04 42.92 39.21
P2 45.70 45.03 43.18
P3 46.39 47.06 47.01

Long Term Trading Plans for LEG

September 6, 2018, 7:00 pm ET

The Technical Summary and Trading Plans for LEG help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this LEG Report.

LEG – (Long) Support Plan

Buy over 43.18 target 47.01 stop loss @ 42.92.
The technical summary data tells us to buy LEG near 43.18 with an upside target of 47.01. This data also tells us to set a stop loss @ 42.92 to protect against excessive loss in case the stock begins to move against the trade. 43.18 is the first level of support below 45.57 , and by rule, any test of support is a buy signal. In this case, support 43.18 is being tested, a buy signal would exist.

LEG – (Short) Resistance Plan

Short under 47.01 target 43.18 stop loss @ 47.27
The technical summary data is suggesting a short of LEG as it gets near 47.01 with a downside target of 43.18. We should have a stop loss in place at 47.27 though. 47.01 is the first level of resistance above 45.57, and by rule, any test of resistance is a short signal. In this case, if resistance 47.01 is being tested, a short signal would exist.

This post was originally published on *this site*