Laboratory Corporation of America Holdings (NYSE:LH) Metastock Technical Forecast
LabCorp (NYSE: LH), an S&P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostics solutions, brings innovative medicines to patients faster, and uses technology to improve the delivery of care. LabCorp reported revenue of more than $11.5 billion in 2019. To learn more about LabCorp, visit www.labcorp.com, and to learn more about Covance Drug Development, visit www.covance.com.
Metastock Expert Advisors
The Adaptive Momentum Strategy is a very straightforward strategy that was partially based on Chapter 12 of John Ehlers book Cybernetic Analysis of Stocks and Futures.
The Adaptive Momentum indicator is a measure of the difference of price over the period of the adaptive cycle. Although it is used primarily as an Oscilator, it is a great indicator for measuring Trends.
Justification for usage of this indicator in this context is pharaphrased from Chapter 12 of Cybernetic Analysis of Stocks and Futures.
The point at one point in a cycle to the same point in the next cycle is exactly the same. It doesn’t matter whether the point you select is the peak, the valley or anyplace in between. The slope between the same points in an idealized cycle is zero. If there is a difference in amplitudes between successive samples, either the cycle period has changed or the market is in a trend. Since cycle periods change very slowly, it is more likely than not that the one cyle momentum is an indication of a trend.
Note that this trading strategy is always “in the market”, meaning that you are either in long or in short, but never “out of the market”. This property makes it a trading strategy may have negative aspects for those that have high trade execution costs and fees. See the Adaptive Momentum Strategy No Noise. This strategy will stay out of the market when the market is not strong in one direction or the other.
The Adaptive Momentum Indicator is in a Bullish Cycle Trend.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with LAB CRP OF AMER). It then signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.
MACD By MetaStock
Close: 140.450 Change: -6.350
MACD Value: -5.090
Signal Line: -9.518
The MACD can provide buy/sell indications in three ways, signal line crossovers, overbought/oversold conditions, and divergences.
Currently the MACD is bullish since it is trading above its signal line.The MACD crossed above its signal line 9 period(s) ago. Since the MACD crossed its moving average, LAB CRP OF AMER’s price has increased 6.44% , and has ranged from a high of 149.310 to a low of 110.500.
The MACD is not in an Overbought/Oversold range.
There have been no divergence signals within the last 5 periods.
LAB CRP OF AMER (LH.N)
Primary Trend: Bearish
Trend Modifier: The primary trend is weakened by a short-tem counter trend
Market Sentiment: Neutral
This expert should be used with daily charts. The bullish primary trend is signaled when the Special K is greater than its 100-day SMA smoothed by a 100-day SMA. The short-term signal is triggered when the Special K itself crosses above its 10-day SMA. The buy signal remains in force as long as the Special K remains above its 10-day SMA. Sell signals are triggered when both conditions are present in reverse. Buy and sell modes are highlighted in green and red respectively against the closing price. Black highlights indicate when a contra trend short-term signal is in force.
When entering a long trade make sure that the market is not short-term overbought. In the commentary we use a 9-day RSI smoothed by an 8-day MA as our reference point for establishing overbought, oversold and neutral readings. You are free to use the indicator of your choice.
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