Lincoln National (LNC) Resuming November Advance

Conclusion, Investment Implications, Strategy

Lincoln National Corporation (LNC) appears to be resuming its November 2020 major uptrend amid coincident quarterly relative outperformance versus the benchmark S&P 500 (SPX). A sustained rise above the $62.15 area would help confirm this and would target an additional 20% rise to $80.00 per share. This is an Asbury Momentum trade idea.

Analysis and Rationale

Lincoln National Corporation (LNC), through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company distributes its products through consultants, brokers, planners, agents, financial advisors, third-party administrators, and other intermediaries. Lincoln National Corporation was founded in 1905 and is based in Radnor, Pennsylvania.

The upper panel of Chart 1 below plots LNC daily since December 2020 along with its 200- and 50-day moving averages, widely-watched major and minor trend proxies. The lower panel displays a corresponding daily relative performance chart of LNC versus the benchmark S&P 500 (SPX, blue) along with its 63-day moving average (green, quarterly, our Strategic time period).

Chart 1

The rightmost green highlights in the upper panel show that LNC appears to be resuming its November 2020 major uptrend, as defined by its 200-day MA, following its Apr 20th test of the 50-day MA. Meanwhile, LNC’s trend of Strategic relative outperformance versus SPX as shown in the lower panel also appears to be resuming. The other green highlights show that similar tests of the Strategic relative outperformance trend on Jan 29th and Oct 29th also resulted in the resumption of the positive trends in both panels. A sustained rise above the 50-day MA, currently situated at $62.15, would help to confirm the outright uptrend has resumed and would target an additional 20% rise to $80.00 per share.

Table 1 below shows that considering the aforementioned upside target and a protective stop placed below the $63.12 area, a long entry price of $66.45 would provide a 1:4.1 risk/reward ratio (risking $1.00 to make $4.10) with an initial risk of 5.0%.

Table 1

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Please consult the table showing our Asbury 6 key market metrics to help determine if this investment is suitable for you.

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Lincoln National (LNC) Resuming November Advance

Conclusion, Investment Implications, Strategy

Analysis and Rationale

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Lincoln National (LNC) Resuming November Advance

Conclusion, Investment Implications, Strategy

Analysis and Rationale

Asbury Research

Asbury Research subscribers get more detail on our latest analysis, and updates to our quantitative models

Schedule A 15-Minute Zoom Meeting With Us To Get More Information >>>

Asbury Research subscribers get more detail on our latest analysis,
and updates to our quantitative models