Insurance company Lincoln National Corp. (LNC) has been around for a long time, since 1905. Let's check out the charts and indicators of this company who has the naming rights to the home of the undefeated Philadelphia Eagles, Lincoln National Field, "The Linc."
In the daily bar chart of LNC, below, we can see that the share price has been in a decline the past 12 months. Prices have been crossing above and below the 50-day moving average line but remain below the declining 200-day moving average line. The On-Balance-Volume (OBV) is weak and has declined the past few months even as prices moved sideways.
This decline in the OBV line is foreshadowing weaker stock prices. The Moving Average Convergence Divergence (MACD) oscillator is just below the zero line in sell territory.
In the weekly Japanese candlestick chart of LNC, below, we see a bearish picture. Prices are trading below the declining 40-week moving average line. I can see a number of upper shadows over the past three months telling me that traders have been rejecting the highs.
The weekly OBV line shows weakness into late September. The MACD oscillator is bearish.
In this daily Point and Figure chart of LNC, below, we can see that prices reached an upside price target of $49.
In this weekly Point and Figure chart of LNC, below, a downside price target in the $34 area is shown.
Bottom-line strategy: Traders and investors should avoid the long side of LNC as further declines seem likely in the weeks and months ahead.
