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A Quantitative Buy Signal on Lindsay Could Propel It Higher

Lindsay should be traded from the long side on strength above $104.
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Lindsay Corp. (LNN) was upgraded to a buy today by TheStreet.com's quantitative service. I thought it might be interesting to look at the charts of this farm irrigation company to see what all the tariff talk may have been doing to this business and its stock price.

In this daily bar chart of LNN, below, we can see a long and choppy trading range for LNN from last July until early May. From May an upside breakout can be seen and a corrective pullback in the past few days. LNN is above the rising 50-day and the bullish 200-day moving average line. The On-Balance-Volume (OBV) line turned up in early April telling us that buyers of LNN turned more aggressive. The Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line in early May for an outright go long signal. In June the MACD oscillator turned down to a take profits signal.

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In this weekly bar chart of LNN, below,we can see that prices are above the rising 40-week moving average line. The weekly OBV line is bullish and has been rising for the better part of the past three years. The MACD oscillator is above the zero line in a bullish configuration for now.

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In this Point and Figure chart of LNN, below, we don't have an upside price target but a rally to $104.00 will be a small upside breakout.

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Bottom line: LNN should be traded from the long side on strength above $104. The stock is not real active so traders should use limit orders. Risk a close below $94. Four other stocks were upgraded to buy today including NKE - you might want to check out the service.

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