analysis on LOWESHad a friend ask for some help getting started, just my analysis on LOWES weekly chart
LOW trade ideas
LOW Looks RollingThe retail space looking very weak. Looks like we going to see some profit taking in the Home builders. LOW had amazing Earnings and guidance so I am not go as far as calling it a short.
LOW Sym Triangle BreakoutLOW originally failed to make a move lower or higher out of the previous triangle. But towards the end of the day we saw it break up out of the new triangle it was making on rising volume into the close. I would like to see it open around where it closed and come back to retest 108. Find a good long entry as it hold, and has a very clear straight path to 109 at past daily R. After three tight days of consolidation and volume picking up at the close, we could definitely make a solid move here with the market.
LOW Sym TriangleLooking for a short here, LOW gapped up on an earnings beat but it has been topping out the past few days at 108. We made an attempt to break out long out of the triangle but failed and moved lower out of the triangle. Will have to see how PA plays out tomorrow at the open but would like to get a retest of a TL or MA before looking to get in. 106.70 will be a key level to break to get a bigger sized move.
Lows test...ignoring the last jumpLows test ...ya i know it jumped ...but it thing its gonna dump
Oh ya, the RSI is crazy oversold...
Lowe's Companies (LOW) stock: what's the sentiment?Investors are optimistic about Lowe's earnings since Walmart and Home Depot reported positive results most recently. This will be the first earnings report under the new CEO Marvin Ellison, who was formerly an executive at Home Depot. However, Lowe's performance is trailing the retail ETF XRT: it is up 6 percent vs. XRT 's 14 percent gain.
The key number to watch in the earnings is comparable-store sales, and all signs point to a positive uptick for this key metric. Home Depot saw its growth rate double between the first and second quarter as customers made their spring purchases a bit later than usual. Lowe's executives suggested in late May that a similar trend may be applicable to the company, so analysts are expecting a big boost here.
$LOW 18 AUG 17 C105 at .55LOW 4 hr chart shows breakout and held retest of resistance line. Looks poised to make a run into earnings on 8/22. GLTA
$LOW Testing Support
NYSE:LOW is currently bouncing off historical support, which was historical resistance 12 month ago. With the first target at prior resistance of ~$89.35, that marks a 4% increase that we could see in the coming days. Playing this with a June 8th $85.5 Call, that can move that 4% gain into ~30% by the end of the month. $95 is our next target, +10%, but I will reassess this target based on how quickly we can get to $89.35.
swing tradeBlue candles represent a good entry. On the weekly chart you can see the past profits from listening to these candles.
