Earnings watch 2/23 pre-market:
LOW
OSTK
BCRX
TJX
PBR
BHC
MNDY
JACK
TAP
HFC
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*3x lucky 7s of...
Yes.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said...
LOW appears to be developing a head and shoulders pattern on the daily chart. I hate that this stock has run up this far, but fibs have shown us that our opinions don't seem to matter. If this a H&S pattern, expect a fall to $202 in the next month or two.
Lowes has multiple gaps to fill to the downside which I hate because I eagerly want to short this stock, but I do not believe this rocket has run out of fuel just yet. If LOW breaks out of the ascending channel, we will find ourselves scratching our heads while LOW moves to 271, then possibly a final target of 293 before I will consider shorting this stock.
Not...
NYSE:LOW has been getting positive coverage from analysts. The announcement from Nike suggesting supply chain disruptions are easing also gave $LOW a boost. Lowe’s has a ex. Dividend date of 1/18/22 and pays out on 2/2/22 $0.80 - Street insider. This should also attract more institutional investors if the market continues to be risk on.
Monday lowes closed with a bearish engulfing candlestick pattern at the top of its rising wedge. Today lowes loss support of that rising wedge and closed with higher selling pressure. Monthly RSI hit 85 last week. if you look at the history of lowes monthly RSI you'll see a pattern where this is a correction around 80-85 on the RSI.
Today makes 2 red candles ...
Long $LOW CMP $252.35. Good long term stock. Nice uptrend. Continuation will take price to $260-$265 area. Expect price consolidation after run. Gap up on recent earning report. Price may come down a little after reaching $260 area.
$LOW $260 bounce
(Bounce off 260 for calls)
Technical analysis: Bull flag breakout on the hourly chart
News catalyst: "Lowe's holds a Financial Outlook event. The home improvement retailer is expected to focus some of its commentary on operating margin opportunities. Expect some analysis following the event on whether or not Lowe's can close the margin gap...
The PEAD projected a Bullish outlook for $LOW after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 66.67%.
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We spiked up out of the open window. As this is a new high we may expect further gains. A very short term retracement cleared the way for this in the short run.
I was watching HD and it hit me that I should take a look at LOW too. So glad I did. It is on my watch list as I am confident that it is forming a cup & handle. If you look to the left, you will see a previous similar cup & handle that played out beautifully. I think the small difference is that there is no gap to fill. But of course we have to watch and play...
Nice symmetrical triangle / flag forming after a crazy few days last week.
It has very strong resistance above ( 209 and 215.20)
However if we break the triangle, we might see a strong push towards ATH
Sign of Strength in the chart:
1. Reaccumulation with Sign of Strength in daily chart
2. Green Pentagon High Volume
3. Strong uptrend with pullback in weekly chart
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