Stock Chart LNC

Posted by downtowntrader | 9/04/2008 07:43:00 PM | 0 comments »

Stock Chart LNC

Lincoln National Corporation (Public, NYSE:LNC)

While financials have been showing good relative strength, it looks like several names are trading up to resistance. There may be a decent swing trade in this sector, even though it appears that money is rotating into the sector longer term. LNC has been in a steady downtrend over the past year. It has been consistently failing on every bounce to the 200 day sma. It looks like it may be reversing from the 200 sma again. I highlighted a wedge it broke down from in June and it appears that it may be falling out of a similar pattern here. If it does, it should test the July low and possibly surpass it.

Good Trading,


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