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Loews Corp (L) Breaks Through Support at $47.79

By Nick Russo

Loews Corp (NYSE:L) has opened bearishly below the pivot of $47.99 today and has reached the first level of support at $47.79. Analysts will be watching for a cross of the next downside pivot targets of $47.65 and $47.31.

There is potential upside of 6.4% for shares of Loews Corp based on a current price of $47.94 and an average consensus analyst price target of $51.00. The stock should find resistance at its 200-day moving average (MA) of $48.32, as well as support at its 50-day MA of $47.09.

Over the past year, Loews Corp has traded in a range of $42.06 to $53.04 and is now at $47.94, 14% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend is tracking the current trend status for Loews Corp and will alert subscribers who have L in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts Loews Corp

Ticker(s): L