Loews Corp: Strong trend could be in the offing

Over the past six months, Loews Corporation shares have traded at USD 43 amid heavy volatility. The stock has approached the USD 43 resistance level for the third time already. RSI has showed no divergence. However, if the stock rises above USD 43 over the next two weeks there will be a buy signal with a target of USD 48. We expect that a potential further correction to USD 41 will be priced in. It makes sense to buy into the name at this level if the price drops to this mark, placing stop-loss orders at USD 40 and a target price of USD 48.
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