Short | LW NYSE:LW
Technical Analysis of Lamb Weston Holdings, Inc. (LW)
Key Observations:
Current Price Action:
Price: $82.24
Recent Drop: -0.44 (-0.53%)
Bearish Line: $81.94
Support and Resistance Levels:
Immediate Support: $79.78 (Target Price 1)
Further Support: $76.45 (Target Price 2)
Resistance: The price recently stalled around $83.18, signaling a short-term ceiling.
Trendlines:
The price sharply broke above a previous resistance level around $79.78, but now shows signs of consolidation below $83.
A minor pullback to test lower supports ($79.78 and $76.45) is possible.
Relative Strength Index (RSI):
Current RSI: ~70 (Overbought Zone).
The RSI shows the stock is overbought, which could lead to a short-term correction.
Target Prices:
Target Price 1: $79.78
A key immediate support level that aligns with previous resistance.
Target Price 2: $76.45
A further downside target where multiple moving averages converge, acting as strong support.
Summary:
Lamb Weston Holdings, Inc. (LW) has shown strong upward momentum but is now consolidating near resistance at $83.18. With the RSI in the overbought zone, a pullback is likely toward $79.78 (Target 1) and potentially $76.45 (Target 2). A close below the bearish line ($81.94) could confirm further downside movement.
