Lowe's looks goodWhen a stock can be resilient during broader weakness, I'm interested. The technical picture is looking interesting, too. Several indicators and oscillators are signaling to buy (denoted with round, green arrows). It's held above the 200 day moving average, which also bodes well.
I suspect we'll get weakness tomorrow, as futures fell sharply earlier. I've already entered (on Tuesday) a small position in actual shares, I'm hoping this ends up an investment. I'll add on additional weakness but am keeping a tight leash on it or hedged with puts. The recent low is at $83.08.
LOWC34 trade ideas
LOWESREQUESTED CHART
-Dont buy LONG until crosses the downtrend line northbound
-This is for LONG BIAS and LONG TERM HOLD strategy
- don't BUY LONG in a downtrend
FOR A RISKER ENTRY
-Buy once start seeing higher lows (before downtrend line cross)
- and divergences on the RSI and MACD (RSI starting to show divergence)
LOW I see more upsideRSI above 80 right now but I don't see this being done here. I do believe chances for large day moves greatly diminished. The easy money trade is over in my opinion. Remember DIV payout this week. I do have it a Fib Fan resistance. I do believe this whole sector needs to focus one far better online presence. Locally, Menards is building a second mega store. This sector missed the memo retail going on line. I just bought a kitchen sink from AMZN just as cheap as these block stores prices. They need to wake up.
Lowes Stock (Trend line entry, long) Looks like it should obey trend line structure and go long. Hoping to hit $90+ by years end! Now looks like the time to buy while its at the trend line. I don't think we should really worry about the elephant in the room (AMAZON) yet, but definitely something to watch.