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.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.