Chart of the Day: This Holding Remains a 'Steady Eddie'
The stock has been in a slight uptrend and keeps its bullish bias.
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You might say Labcorp (LH) has been a bit boring lately, with the market indexes hitting all-time highs multiple times, but the stock really has been acting well. No, it is not in the AI, software or even quantum space, nor is it a speculative name. But Labcorp has carved out a nice base that seems to show the next move is going to be higher.
How did we decide this?
The stock is making some slightly higher highs but is failing at higher lows, so while the chart is bullish it is not in an uptrend state just yet. Indicators are rather mixed but are tilted bearishly, only because the strong momentum from mid-summer has burned off. That is normal, and we should continue to defer to the price chart for our decision process.
We continue to like Labcorp, the volume trends are bullish and if it continues to build on this bullish structure we could see $300+ very soon.
We rate Labcorp a Two in TheStreet Pro Portfolio, or "stockpile on pullbacks."
At the time of publication, TheStreet Pro Portfolio was long LH.
