Greenstein said that while most of the world first learned of Lydall last year during the pandemic, her company is about a lot more than just N95 masks. She was proud to report that Lydall's filtration media is onboard the Moxie module of NASA's Perseverance rover currently on Mars.
Closer to home, Lydall continues to make filter media for N95 masks, which Greenstein noted will be in high demand for years to come. Lydall is also making critical components for electric vehicles, including materials to shield from interference, dampen sound and keep air fresh.
We last looked at the charts of LDL on December 15 and wrote that "The charts of LDL show the stock is on the extended side with the daily OBV line rolling over. This tells me that we could see LDL make a sideways to lower correction in the weeks ahead before resuming the rally in the first half of 2021."
Let's check out the charts of LDL again.
In this updated daily bar chart of LDL, below, we can see that the price of LDL did move sideways from the middle of December to the end of February. Prices rallied to new highs in March and then retreated into the middle of April. LDL is back above the slightly rising 50-day moving average line. The slower-to-react 200-day line also has a positive slope.
Trading volume has been more active since March and the On-Balance-Volume (OBV) line shows a decline from March into April. More recently the OBV line has firmed a bit from the middle of April signaling a return to more aggressive buying.
The Moving Average Convergence Divergence (MACD) oscillator crossed to the upside in April for a cover shorts buy signal and is now crossing the zero line for an outright buy message.
In this weekly bar chart of LDL, below, we see a positive picture. Prices are in an uptrend trading above the rising 40-week moving average line. The weekly OBV line has been strong since June and is close to making a new all-time high. The MACD oscillator is poised to cross to the upside and a fresh buy signal.
In this daily Point and Figure chart of LDL, below, we can see a potential price target of $41.
In this weekly Point and Figure chart of LDL, below, we can see a tentative $68 price target.
Bottom line strategy: Traders could go long LDL at current levels risking to $31 for now. $41 and then $68 are our upside price targets.