$LW just needs a little gravy – February 16, 2023
SPY
This is Scott with your Chart of the Day. This is a quick and dirty one here from Lamb Weston ( NYSE: LW ). Now, Lamb Weston ( NYSE: LW ) is one of the biggest french fry producers in the whole world. And so we will go quick and dirty, get the dirt off the potato and into the deep fryer, and get you back into your evening.
This stock has a lot of great ingredients right now. It is in an uptrend, and as you can see, it is above all the major moving averages. Now, despite the fact that we had some market volatility today, there wasn’t really a panic out of Lamb Weston ( NYSE: LW ). The stock didn’t really do much considering SPY ( NYSEARCA: SPY ) near the lows.
What I want to see from Lamb Weston ( NYSE: LW ) is a strong move out of this nice month-long base above that $100.00 level, coming on higher than average volume. So I am going to set an alert on my software, just around that $100.00 level, maybe just above, and look for that strong move coming on volume.
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