Chart of the Day: All Is Quiet in the 'Lab' — For Now
LabCorp has lost some momentum, but is building a base.
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There is nothing worse than stalling out from a nice rise up in a stock. Labcorp (LH) had that nice move higher in the summertime and did not stop going up until it hit some heady resistance in late October. At the time, the stock was at all-time highs, but it fell sharply following a rough earnings report.
All is not lost, though. The stock fell to a level of support put in place back in July, tried to rally but is testing that area once again, call it the $240-255 zone. Recent price action has been tight; the range has been very narrow as the stock is building a nice base.
Will we see LH move higher? Most likely but trying to time it is futile. The odds seem to favor the upside after this recent correction but it would have to get moving above the $265 area for the bulls to regain control.
As it is, the bears have the advantage now with purple candles (bearish on the GoNoGo composite of indicators), MACD on a sell signal and momentum just reduced to ashes.
We like Labcorp in TheStreet Pro Portfolio and rate it a Two, or "stockpile on pullbacks."
More Pro Portfolio:
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- Stocks & Markets Podcast: The Market Setup and Pro Picks for 2026
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At the time of publication, TheStreet Pro Portfolio was long LH.
