LKQ was on an uptrend from March to October 2023. Nov-Dec 2022 was the period of consolidation. LKQ broke out in January 2023 but has been in a rectangular formation since. RSI is now nearly oversold. But the overall market is weak. Either ways, LKQ will come out of its rectangular formation today. If the market forces subdue it, a downtrend will start. Else a...
Hello ladies and gentlemen, according to my chart analysis of the LKQ, there is a high probability of a decline towards the 46.24$ level in the next few weeks.
On the chart of LKQ, we can see a forming ascending triangle and we can see hidden bullish divergence on daily timeframe.
An ascending triangle is a bullish formation. The pattern gets validated when the price breaks out of the upside of the pattern.
By using the Relative Strength Index we can hidden bullish divergence.
A long position can be taken when the...
The PEAD projected a Bullish outlook for $LKQ after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 100%.
The PEAD projected a Neutral outlook for $LKQ after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 57.14%.
LKQ is currently at a resistance point of a downtrend channel that started back in December 2021.
Watch for LKQ to break that trend line. A break would mark a potential reversal of the downtrend.
I'll be entering a long position on the break, with a stop at 49.50.
The ideal situation is if we break 51.60/51.70, then maybe we can fill the small gap at...
The PEAD projected a Neutral outlook for $LKQ after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 75%.
LKQ: LKQ Corporation
2022-05-12 09:00:00
LKQ Corporation Announces $500 Million Increase in Stock Repurchase Program; total authorized now $2.5 Billion through October 2024
With earnings coming up later this week, July 29th 2021, it's likely that LKQ may break and confirm the inverse head and shoulders pattern it has been forming since May of this year.
A daily break and close above $51.52 would confirm that the price wants to go higher and the target for this pattern would be around the $56.92 area.
Trade idea:
* Wait for a daily...
Five of our algorithms point to near-term declines for LKQ on the hourly chart. Our first algorithm (version 1) has identified this event 23 times. All 23 times the stock has dropped at least 1% over the next few days. It has dropped as much as 3% more than half the time. We are projecting slight movement up which should last no more than 2 full trading days...
