Lowe’s Cos. (LOW) Closes on Highs

Lowe’s Cos. (LOW) engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors… 

Take a look at the 1-year chart of Lowe’s (NYSE: LOW) below with added notations:

LOW had stalled at the same $180 resistance (blue) multiple times over the most six months, but now that the stock has broken above that mark, while also hitting a new 52-week high, overall higher prices should be coming. If LOW pulls back, the $180 level should provide some support.

The possible long position on the stock would be on a pullback down to that level with a stop placed under it. A failure to hold $180 could negate the expectations for a higher move.

Want to Discover More Great Trades?

I have explored virtually every flavor of technical analysis and chart pattern known to mankind. The sad fact is that the vast majority of them don’t work at all.

That is why I recently put together this special report to help investors focus on the only 5 chart patterns that matter…the ones that lead to the most timely and profitable stock trades. Click below to get your copy now!

5 WINNING Stock Chart Patterns

Have a good trading day!

Good luck!

Christian Tharp, CMT

@cmtstockcoach