It Seems Loews Corporation (L) Will Go Down. Formed A Few Months Bearish Ascending Triangle Pattern

July 17, 2017 - By Michael Collier

Investors sentiment increased to 1.06 in 2016 Q4. Its up 0.01, from 1.05 in 2016Q3. It increased, as 25 investors sold Loews Corporation shares while 143 reduced holdings. 45 funds opened positions while 133 raised stakes. 191.99 million shares or 2.70% more from 186.94 million shares in 2016Q3 were reported.
California-based Private Gru has invested 1.96% in Loews Corporation (NYSE:L). Soros Fund Ltd Liability Company owns 5,500 shares. Fjarde Ap owns 60,843 shares. Moreover, Natixis has 0.01% invested in Loews Corporation (NYSE:L). 91,502 were accumulated by Martingale Asset Limited Partnership. Renaissance Techs Lc reported 1.13 million shares. Calvert Investment Management has 20,188 shares. Diamond Hill Cap stated it has 4.47M shares or 1.21% of all its holdings. Natixis Asset owns 10,042 shares or 0.04% of their US portfolio. Kanaly Tru Company holds 0.01% or 1,000 shares in its portfolio. Panagora Asset has invested 0% in Loews Corporation (NYSE:L). Roof Eidam Maycock Adv has invested 0.94% in Loews Corporation (NYSE:L). Massachusetts Ser Ma holds 0% in Loews Corporation (NYSE:L) or 52,703 shares. Legal & General Gru Plc owns 1.43 million shares for 0.06% of their portfolio. Andra Ap holds 71,600 shares or 0.09% of its portfolio.

Since February 7, 2017, it had 0 insider buys, and 6 selling transactions for $13,994 activity. DIKER CHARLES M sold $2,762 worth of stock. $2,763 worth of Loews Corporation (NYSE:L) was sold by LASKAWY PHILIP A on Wednesday, March 1. FRIBOURG PAUL J sold 40 shares worth $1,880. Shares for $2,763 were sold by HARRIS WALTER L. BERMAN ANN E also sold $2,763 worth of Loews Corporation (NYSE:L) shares. BOWER JOSEPH L had sold 23 shares worth $1,063 on Tuesday, February 7.

The stock of Loews Corporation (L) formed an ascending triangle with $43.34 target or 8.00 % below today’s $47.11 share price. The 7 months triangle pattern indicates high risk for the $15.87B company. If the $43.34 price target is reached, the company will be worth $1.27 billion less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 274,468 shares traded. Loews Corporation (NYSE:L) has risen 15.12% since July 17, 2016 and is uptrending. It has underperformed by 1.58% the S&P500.

Wall Street await Loews Corporation (NYSE:L) to release earnings on August, 7. Analysts forecast earnings per share of $0.78, up exactly $0.18 or 30.00 % from 2014’s $0.6 EPS. The expected L’s profit could reach $262.76 million giving the stock 15.10 P/E in the case that $0.78 earnings per share is reported. After posting $0.87 EPS for the previous quarter, Loews Corporation’s analysts now forecast -10.34 % negative EPS growth.

More news for Loews Corporation (NYSE:L) were recently published by: Reuters.com, which released: “LPC: American Securities explores sale of packager Tekni-Plex” on July 17, 2017. Prnewswire.com‘s article titled: “Loews Hotels & Co and KC Hotel Developers LLC Partner on New Kansas City …” and published on June 21, 2017 is yet another important article.

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