Skip to main content

Linamar Corp. (Friday’s close $58.07) traded above a rising trend-line for about two years from mid-2016 to mid-2018 (dotted line). The stock fell below this line and below its 40-week Moving Average (40wMA) in May of this year to signal the start of a down-trend (A).

Behaviour indicators including the falling 40wMA and the falling trend-line (solid line) confirm the negative status. The stock is currently in the midst of a minor recovery rally toward $65, but only a sustained rise above $70 would reverse the current negative trend.

After a recovery rally, Linamar could move toward lower targets.

Monica Rizk is the senior technical analyst and Ron Meisels is the president of Phases & Cycles Inc. (phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Open this photo in gallery:

Chart source: decisionplus.com

Report an editorial error

Report a technical issue

Editorial code of conduct

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 07/11/24 3:36pm EST.

SymbolName% changeLast
LNR-T
Linamar Corp
-0.32%58.68

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe