Loews Corp (NYSE: NYSE:L ), a diversified financial conglomerate, has reported an impressive nearly 26% surge in fourth-quarter profit, showcasing its resilience in the face of economic uncertainties. The company's robust performance was primarily attributed to higher premiums and favorable market conditions, particularly a rally in U.S. government bonds at the...
L is currently in an ascending channel with bearish RSI divergence. Has broken trendline on smaller timeframe, stoploss at last swing high with target at bottom of channel also could be a bigger move if breaks down out of channel so will be using a trailing SL if it gets there, moving SL to BE when safe to do so.
Two wedges , facing away from each other, showing symmetry with each other all of this is along a larger trend line in white that is in solid white More of an observational post
Loews weekly chart appears to be breaking out of a volatility contraction pattern , with price coming out of a nice rounded base and aiming for next leg up. I am long shares at $63 and will add as this grinds higher, trade invalidated and stop loss at -8% or $58.05 First price target $66