LPX | Wait to Buy This Buffett Pick | ShortLouisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products. The OSB segment manufactures and distributes OSB structural panel products comprising LP TechShield radiant barriers, LP WeatherLogic air and water barriers, LP Legacy premium sub-flooring products, LP FlameBlock fire-rated sheathing products, and LP TopNotch sub-flooring products. The EWP segment provides laminated veneer lumber and other related products; and LP SolidStart I-joists, which are primarily used in residential and commercial floorings, roofing systems, and other structural applications. The South America segment manufactures and distributes OSB structural panel and siding products. This segment also distributes and sells related products for the region's transition to wood frame construction. It also offers timber and timberlands and other products and services. The company sells its products primarily to retailers, wholesalers, and homebuilding and industrial businesses in North America and South America, Asia, Australia, and Europe. Louisiana-Pacific Corporation was incorporated in 1972 and is headquartered in Nashville, Tennessee.
LPX
LPX to fall 9% over next weekAside from the expected strong Q4 earnings, due to the hurricaines, we should see LPX fall 9% to 25.11.
This current rally isn't doing well, showing a small 3-day consolidation, ATR oscillator confirms a weakening in range after a strong move (range strengthened) down. RSI found support at around 51, this is rather bullish, however price action gives too many indications of weakness on this rally.
We could be on an "a" correction wave and have just completed a 5-wave cycle. Note that on 7/18, there was a longer than usual correction, lasting more than a month and pushed the RSI below 50, bearish. Corrections have become smaller and smaller, this is unhealthy price action for a trend. More and more people are holding, there's no healthy selling. If there is no selling, the price can't move higher.
Also setting up for a correction on its monthly chart, as well
Take a look at this daily Renko chart for S/R and the trendline