PPR - LGF and LL
LGF had a continuation pocket pivot in today's trade. Industry group rank #1, earnings and sales have rocketed higher, institutional sponsorship has increased last 6 quarters. Technical action on LGF is very tight and constructive as it has obeyed the 10dma for at least 7 weeks, thus using the 7-week rule, a violation of the 10dma should be a sell signal. A violation occurs when the stock closes below the 10dma, then in subsequent days, trades below the low of that day.
LL had a pocket pivot as well. Earnings and sales remain strong, institutional sponsorship has grown last 5 quarters. One caveat is that other group members USG and EXP both sold off on high volume today, though EXP got support at its 50dma.
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