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Watch for Continued Losses in Shares of L Brands Inc (LB)

By David Diaz

L Brands Inc (NYSE:LB) traded today at a new 52-week low of $40.89. Approximately 727,000 shares have changed hands today, as compared to an average 30-day volume of 2.5 million shares.

In the past 52 weeks, L Brands Inc share prices have been bracketed by a current low of $40.89 and a high of $79.67 and are now at $41.64. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

L Brands Inc has overhead space with shares priced $41.64, or 22.1% below the average consensus analyst price target of $53.43. The stock should find initial resistance at its 50-day moving average (MA) of $83.39 and further resistance at its 200-day MA of $89.15.

L Brands, Inc. sells women's apparel and beauty products. The Company offers various products including women's apparel, women's lingerie, beauty and personal care products, home fragrances, and other related products and accessories. L Brands serves customers in the United States, Canada, and the United Kingdom through specialty retail stores, websites, and catalogues.

SmarTrend recommended that its subscribers protect gains by selling shares of L Brands Inc on July 10th, 2017 by issuing a Downtrend alert when the shares were trading at $44.49. Since that call, shares of L Brands Inc have fallen 7.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows l brands inc

Ticker(s): LB