Not much to say about LEG. There seems to be a lot of chatter lately across the news outlets/social media platforms. I already hold a small position long term as a dividend hold. The valuations look good however, the one obvious issue are the supply chains. LEG has obviously been in quite the consolidation range, $31 support and $44 resistance with a few...
Cause=effect
Break out from area of consolidation from 7 months ago is pretty significant
Buy 50-61% retracement from the breakout
target 54
Adjust position size with respect to risk appetite.
Good luck
LEG (LEGGETt&PLATT), based in Carthage, Missouri, is a diversified manufacturer (and member of the S&P 500 Index) that designs and produces various engineered components and products that can be found in most homes and automobiles with market capitalization 5.61B.
And now after huge uptrend the price entered into consolidation. Price is bouncing between two...
RSI oversold on most time frames
Momentum appears weak at the moment and but stock has been consolidating in a tight channel since August 2020
Solid fundamentals with volume profile indicating possible interest at 50's, near its 52 week high
Unknown time frame, this is a long hold until it reaches price target
Hey my friends, LEGGETT & PLATT is in a fake bearish configuration we see the last session a low sales volume but it seems to still want to buy. LEGGETT & PLATT is heading towards the last pre-session high to start higher, great potential to break the median forcefully to come to the last previous higher.
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LEG Looking good as short. Great breakdown below upward channel formed since October 27th. Moneyflow also broken down. We think it will decline further.
* Trade Criteria *
Date First Found- May 19, 2017
Pattern/Why- Upward channel breakdown short
Entry Target Criteria- Break of $49.87
Exit Target Criteria- $45.13
Stop Loss Criteria- $52.6
Please check...
LEG has been trying to breakout of a multiyear consolidation since May 2014. On the weekly chart I have drawn on the 1998 and 2004 highs (to highlight this point) and the more recent consolidation zone which lasted just over 5 months.
Finally in October 2014 price made a big bullish move (on earnings and higher volume) but this was far too early to consider a buy...
![LEG: $LEG | [Update] Bullish Channel: Watch For A Breakout](https://s3.tradingview.com/o/oDa3sb1i_mid.png "$LEG | [Update] Bullish Channel: Watch For A Breakout")
