Fri 23'rd Jun 2017
Lennox International Inc Stock Analysis
Technical stock analysis for Fri 23'rd Jun 2017
Hold candidate since 2017-06-23
Lennox International Inc lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.3% during the next 3 months and, with 90% probability hold a price between USD 199.97 and USD 218.13 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday June 22, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Lennox International Inc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 189.54. On a fall, the stock will find some support from the long-term average at approximately USD 177.75. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 71 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at USD 177.10 and USD 172.02. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 191.87, USD 188.61 and USD 191.25.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lennox International Inc finds support just below today's level at 177.10. If this is broken, then the next support from accumulated volume will be at 172.02 and 168.32. The stock is about to test the resistance from accumulated volume at USD 191.87 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 2.58 (1.38%) between high and low. For the last week, the stock has had a daily average volatility of 1.60%.
Our recommended stoploss: USD 179.81 (-4.16%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 71 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
Lennox International Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.