====== Glossary - L ======

[[:glossary_a|A]] [[:glossary_b|B]] [[:glossary_c|C]] [[:glossary_d|D]] [[:glossary_e|E]] [[:glossary_f|F]] [[:glossary_g|G]] [[:glossary_h|H]] [[:glossary_i|I]] [[:glossary_j|J]] [[:glossary_k|K]] **L** [[:glossary_m|M]] [[:glossary_n|N]] [[:glossary_o|O]] [[:glossary_p|P]] [[:glossary_q|Q]] [[:glossary_r|R]] [[:glossary_s|S]] [[:glossary_t|T]] [[:glossary_u|U]] [[:glossary_v|V]] [[:glossary_w|W]] [[:glossary_x|X]] [[:glossary_y|Y]] [[:glossary_z|Z]]

==== Laggard ====
An industry or company that is underperforming the market.

==== Leader ====
An industry or company that is outperforming the market.

==== Limit Order ====
An order to buy or sell a security at a specific price. Unlike a market order, limit orders might not be filled immediately if the market moves away from the specified price.

==== Line Chart ====
Price charts that connect the closing prices of a given market over a span of time, forming a curving line on the chart. This type of chart is most useful with overlay or comparison charts that are commonly employed in [[:glossary_i#intermarket_analysis|intermarket analysis]]. It is also used for visual trend analysis of open-end mutual funds.

==== Linear Regression ====
The least-squares line-of-best-fit for a price series. Even though the formula is quite complicated, a linear regression is relatively easy to understand. Imagine a scatter plot (dots) for the closing prices of a security. A linear regression is a line that passes through these points with the best possible fit. See also ChartSchool article on the [[:chart_analysis:raff_regression_chan|Raff Regression Channel]].

==== Linear (Arithmetic) Scaling ====
See [[:glossary_a:#arithmetic_linear_scaling|Arithmetic (Linear) Scaling]].

==== Liquidity ====
The ease with which a stock may be bought or sold in volume on the marketplace without causing dramatic price fluctuations. A highly liquid stock is characterized by a large volume of trading and a large pool of interested buyers and sellers.

==== Livestock Commodities Index ($GVX) ====
The Livestock Commodities Index ($GVX) charted by StockCharts.com is published by Goldman Sachs. Cattle and hogs are the livestock included. [[https://stockcharts.com/gallery?$gvx|Chart $GVX in GalleryView.]]

==== Logarithmic (Percentage) Scaling ====
On a logarithmic scale chart, the vertical spacing between two points corresponds to the percentage change between those numbers. Thus, on a log scale chart, the vertical distance between 10 and 20 (a 100% increase) is the same as the vertical distance between 50 and 100. Because these charts show percentage relationships, logarithmic scaling is also called "percentage" scaling. It is also called "semi-log" scaling because only one of the axes (the vertical one) is scaled logarithmically. See our ChartSchool article on [[:chart_analysis:what_are_charts#price_scaling|price scaling]].

==== Long-Legged Doji ====
This candlestick has long upper and lower shadows with the [[:glossary_d#doji|Doji]] in the middle of the day's trading range, clearly reflecting the indecision of traders.

==== Low Pole (LP) ====
A situation on a [[:glossary_p#point_figure_chart|Point and Figure Chart]] that occurs when a down column that falls 3 boxes or more reverses to an up column. The reversal retraces more than 50% of a down move that has an odd number of O's, or retraces more than 62.5% of a down move that has an even number of O's. Because it is not an actual P&F buy signal but offers a good probability of leading to one, this formation is considered a "buy alert."