Loews Stock Analysis: Eyes on Resistance as Uptrend Continues

Loews Corporation (NYSE: L) is maintaining its upward momentum, with the stock showing strong signs of retesting resistance along the upper trendline of a long-standing ascending channel that dates back to 2020. Currently trading at approximately $88.61 per share, Loews stock is up nearly 6% year-to-date and has gained around 17% over the past 12 months.

The key resistance level to watch is at $92.50, aligned with the upper boundary of the trend channel. A decisive breakout above this level could open the path towards the psychologically significant $100 mark, which may act as a potential profit-taking zone for investors.

However, short-term technical indicators are flashing caution. The MACD (Moving Average Convergence Divergence) is declining and moving closer to its signal line. A bearish crossover could suggest a potential pullback. In the past, each time the MACD crossed below its moving average, Loews shares experienced a notable sell-off, indicating that the stock might be approaching overbought conditions.

Adding to the cautious tone, trading volume is also on the decline, suggesting waning momentum. If a correction occurs, several key support levels come into focus:

• $83.94

• $80.46

• $79.08

A break below $79.08 could trigger a deeper retracement, potentially driving the stock back down to the lower trendline of the channel, thereby testing the longer-term trend support.

Summary

Loews stock remains in a strong uptrend, but investors should closely monitor technical signals such as the MACD and declining volume. A break above $92.50 could fuel a move towards $100, while downside risks may emerge if support levels fail to hold.